Asia Now Resources Corp.

Asia Now Resources Corp.

January 03, 2008 13:17 ET

Asia Now Closes Private Placement

TORONTO, ONTARIO--(Marketwire - Jan. 3, 2008) - Asia Now Resources Corp. ("Asia Now") (TSX VENTURE:NOW) is pleased to announce that it has completed the private placement financing originally announced on November 15, 2007. Asia Now issued 1,058,986 common shares at a price of $0.55 per share to raise gross proceeds of $582,442.

A finder's fee of $46,595 cash was paid, along with 105,899 warrants. Each warrant will be exercisable for one common share at a price of $0.55 per share until January 3, 2009.

The net proceeds from the financing will be used for advancement of the Beiya and Habo projects, working capital and general corporate purposes.

"Asia Now is pleased to have received support from strategic investors in Shanghai," said Asia Now President, Kaihui Yang. "We have spent some time generating interest among the local investment community in China and will continue to build these relationships going forward."

The common shares and warrants issued pursuant to the private placement, and the common shares to be issued pursuant to the exercise of the warrants, are subject to a statutory hold period which expires May 3, 2008.

About Asia Now Resources:

Asia Now Resources Corp. is a mineral exploration company active in China since 2002. The Company has established offices, joint ventures and a significant network with Chinese partners. Current projects include copper, gold and silver at three major projects, with drilling underway at two of these. Under the leadership of an experienced management team, the Company has a sound balance sheet to take exploration into the next phase. For more information, please visit

Shares Outstanding: 50,252,224

The TSX Venture Exchange has not reviewed and does not accept responsibility for this news release.

Contact Information