CBM Asia Development Corp. announced that it has completed a first retail tranche of 8,600,000 common shares at a price of $0.10 per share for gross proceeds of $860,000, subject to finder’s fees totaling $36,750.
A second retail tranche is currently being placed with a view to completing same by the first or second week of September, 2013.
The Company has also received agreements from management and directors to acquire a total of 5,177,342 common shares at a price of $0.10 per share representing an aggregate value of $517,734. These agreements remain subject to the acceptance of the TSX Venture Exchange.
All securities issued in connection with the first closing are subject to a hold period of four months and one day expiring December 24, 2013.
[mappress] LNG World News Staff, August 27, 2013