BELLINGHAM, Wash., Oct. 18, 2013 (GLOBE NEWSWIRE) -- Asia Properties, Inc. or "API" (OTC:ASPZ) today announced that it has executed a private placement for US$200,000 at $0.10 a share. The funds will be used along with internal cash and shares towards the acquisition of gold claims with 43-101 geological reports that API is currently negotiating.
The private placement consists of 2,000,000 restricted shares at a share price of $0.10 per share. The company plans several more rounds of private placements under the similar terms for up to US$500,000 over the short term for further acquisitions.
Daniel Mckinney, CEO of Asia Properties said, "This is great progress for API and a significant step forward to enable us to acquiring undervalued gold claims in favorable jurisdictions. We like the low risk nature of North American claims as this presents a big opportunity at this time with the recent gold price plunge with big mining focused only on their largest producing mines."
The Company will release details about the acquisitions including a map of its location on the Company website as soon as the due diligence is completed and the Sales and Purchase agreement is signed. Please see www.asiaprop.com
About Asia Properties, Inc.: is a Nevada corporation and trades on the OTC Pink under the symbol "ASPZ." There are currently 40,921,362 fully diluted shares. The transfer agent is Transfer Online, Inc. of Portland, Oregon. Please visit our website: www.asiaprop.com
This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.