00:03:41 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



East Africa Metals Inc
Symbol EAM
Shares Issued 140,574,675
Close 2017-04-11 C$ 0.27
Market Cap C$ 37,955,162
Recent Sedar Documents

ORIGINAL: East Africa investor Shandong now has 14.3% stake

2017-04-11 18:43 ET - News Release

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File: STH PR.docx

Shandong Tyan Home Co., Ltd.  The main office building, 1577 North Longao Road, Lixia District, Jinan, Shandong, China
---> Tel no. +86 0531 86171188
NEWS RELEASE
April 11, 2017 - Shandong Tyan Home Co., Ltd. ("STH") announced today that it has filed an early warning report advisi
--->ng of its holdings in East Africa Metals Inc. ("East Africa" or the "Company").
STH acquired ownership and control of 20,000,000 units of the Company at $0.26 per unit, for gross proceeds of $5,200,
--->000, pursuant to a private placement of the Company.  Each unit consists of one common share of the Company and one-ha
--->lf of one common share purchase warrant.  Each whole warrant entitles the holder thereof to purchase one common share 
--->at an exercise price of $0.45 until September 7, 2018.  
STH is a Chinese listed public company on the Shanghai Stock Exchange (stock code: 600807), with an integrated busines
--->s range including real estate, mining, finance and venture capital investment.
Prior to the private placement, STH did not own any securities of the Company. 
As a result of the private placement, STH has beneficial ownership and control of an aggregate of 20,000,000 common sh
--->ares and 10,000,000 common share purchase warrants of the Company.  The 20,000,000 common shares represent approximate
--->ly 14.3% of the outstanding common shares of the Company (based on a total of 139,728,095 common shares issued and out
--->standing as of March 7, 2017 following completion of the transaction), or 20.0% of the outstanding common shares of th
--->e Company (assuming the exercise in full of the 10,000,000 warrants and based on a total of 149,728,095 common shares 
--->of the Company issued and outstanding).  The East Africa shares are listed on the TSX Venture Exchange.
This transaction was made for investment purposes.  STH has no current intention to obtain beneficial ownership of add
--->itional securities of the Company. However STH may, as investment conditions warrant, acquire additional securities or
---> dispose of securities of the Company, in the market or privately.  
On March 7, 2017, Mr. Yongwen Wang, a director and General Manager of STH, was appointed a director of the Company.
In addition to the private placement, STH and the Company have a non-binding letter of intent to for STH to provide US
--->$10,000,000 line of credit to the Company to support the Company's development of its Terakimti Oxide Gold Project.  S
--->TH can choose to identify a third party to provide or participate in the debt financing.
A copy of the report filed by STH in connection with this acquisition is available on the SEDAR website at www.sedar.c
--->om under the Company's profile or by contacting Mr. Wang at ty600807@vip.163.com .
SHANDONG TYAN HOME CO., LTD. 
By:  (signed) "Yongwen Wang"  Yongwen Wang
 Director & General Manager



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