Thursday, 7 August 2008

Asia Now Attracts Big Backing From Asian Conglomerate Lippo Corp.

Asia Now (TSX-V: NOW)

Basic Shares: 50.6 million


In the world of junior mining, cash is king. Asia Now completed a non brokered private placement with China Gold, a subsidiary of Lippo Corp, issuing roughly 13 million shares at $0.44 per share for proceeds of just over $5.7 million. China Gold has acquired 19.99% of the company's stock that is subject to a statutory hold period that expires on December 8th this year.

As a note, this is a 33% premium to the current market price based on today's (Aug. 7) close at $0.33.

Asia Now first shed light on its relationship with Lippo in an announcement this past April. Having a giant like Lippo Corp as a financier sets Asia Now apart from the majority of juniors allowing shareholders to breathe a sigh of relief knowing that the company is safe while many others are not.

Asia Now is now very well funded allowing it to move full steam ahead exploring its high priority targets in China.