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Friday, September 22, 2006 9:07:03 AM
MANILA, Philippines, Sep 13, 2006 (BUSINESS WIRE) --
Pearl Asian Mining Industries, Inc. (OTC: PAIM)
announced today that it has closed its Regulation D, Rule 504 offering
over the past two months, and is no longer selling shares of its
common stock to the accredited investor. A Form D will soon be filed
with the Securities and Exchange Commission disclosing that the
company raised just under $1 million dollars during this year 2006.
The limit to any such offering is $1 million in the trailing twelve
months. The completed offering had provided the company the working
capital to see us through the further funding of a non-dilutive
offering of a Limited Partnership. The 90% Buy Back is now 100%
completed.
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