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East Africa Metals ( (TSE:EAM) ) has issued an update.
East Africa Metals announced the successful closing of a non-brokered private placement, raising CAD$500,000 through the issuance of 3,333,333 common shares at CAD$0.15 each. The investment, made by a strategic partner, demonstrates confidence in the company’s growth prospects and assets in Africa. Proceeds are earmarked for legal, accounting, and general working capital, with final approval pending from TSX-V. This financial move highlights East Africa Metals’ proactive steps in enhancing its operational capabilities and strengthening its market position.
More about East Africa Metals
East Africa Metals is engaged in mineral exploration and development, focusing primarily on gold and polymetallic projects in Africa. The company holds significant interests in the Mato Bula and Da Tambuk mines in Ethiopia, as well as the Harvest polymetallic VMS Exploration Project and Magambazi Mine in Tanzania.
YTD Price Performance: 12.50%
Average Trading Volume: 57,287
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$28.98M
See more data about EAM stock on TipRanks’ Stock Analysis page.