Strong demand recently caused the IPO price to be raised from $18 to $23. With increasing worldwide demand, Eastern Field International Ltd. is very well positioned to increase sales and gain market share.
Proceeds from the IPO will fund the company's significant capacity expansion plans to meet the rapidly growing demand of rare earth metals and element products. The company continues to acquire long term supply contracts with firms in China, Japan, Germany and the US among others.
Contractual supply commitments are expected to outstrip the company's capacity early in the new year. The IPO will raise funds in time to expand and retool the mining and manufacturing facilities in order to meet all present and future commitments.
Eastern Field International Ltd. is a company focused on rare earth elements exploration by way of identification and discovery of new rare earths sources and opportunities that can provide long term supply and with the potential for full development of world-class facilities for separation and delivery. The Company has several rare earth projects in multiple locations, the operations of which are enhanced by close relationships with a number of top tier companies in the industry who have the capability of separating the full spectrum of rare earth elements.
This news release may contain forward-looking statements, as defined by securities laws, including statements regarding financial outlooks and market environments. Any such statements are based on present expectations and involve a number of risks and uncertainties. Important factors, including those mentioned in this news release, that could cause real results to differ materially are set forth in the company’s annual report and subsequent statutory filings. They include risks and uncertainties relating to the pace at which the company adds manufacturing capacity and new capital sources, the value of global and regional financial markets, and the dynamics of the markets the company serves.
Eastern Field International Ltd. encourages investors to consult with an investment professional and review filings in conjunction with this publication and prior to making any investment decisions. The forward-looking statements contained in this news release speak only as of the date of its release, the company does not undertake to revise these forward-looking statements to reflect events after the date of this release.