East Africa Metals Issues Bonus Shares
East Africa Metals Issues Bonus Shares
VANCOUVER, British Columbia, Dec. 15, 2017 -- East Africa Metals Inc. (TSX-V:EAM) (“East Africa” or the “Company”)
reports that as announced in its news release dated March 24, 2016, the Company’s Board of Directors has approved of the
grant of up to 2,750,000 bonus common shares to certain officers of the Company, subject to certain conditions including the
issue of mining license for the Company’s Harvest project, shareholder approval, and approval of TSX Venture Exchange.
Shareholders voted 99.28% in favour (see news release dated June 24, 2016) and in 2016 the TSX Venture Exchange approved
of the issuance of the shares.
Following receipt of the mining license for the Harvest project, the Company has issued 1,750,000 bonus common shares to
certain officers of the Company. The shares are subject to a hold period expiring April 16, 2018.
The Company has yet to issue the remaining 1,000,000 bonus common shares.
More information on the Company can be viewed at the Company’s website: www.eastafricametals.com.
On behalf of the Board of Directors:
Andrew Lee Smith, P.Geo., CEO
For further information contact:
Nick Watters, Business Development
Telephone +1 (604) 488-0822
Email [email protected]
Website www.eastafricametals.com
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipate",
"believe", "plan", "expect", "intend", "estimate", "forecast", "project", "budget", "schedule", "may", "will", "could", "might",
"should" or variations of such words or similar words or expressions. Forward-looking information is based on reasonable
assumptions that have been made by East Africa as at the date of such information and is subject to known and unknown
risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of East
Africa to be materially different from those expressed or implied by such forward-looking information, including but not limited
to: early exploration; the closing of the agreement with the exploration and development company to advance the Magambazi
Project or identify any other corporate opportunities for the Company; mineral exploration and development; metal and mineral
prices; availability of capital; accuracy of East Africa's projections and estimates, including the initial mineral resource for the
Adyabo, Harvest and Magambazi Projects; estimated timing of receipt of the Terakimti Oxide Gold mining licence and/or
exploration licence extensions, interest and exchange rates; competition; stock price fluctuations; availability of drilling
equipment and access; actual results of current exploration activities; government regulation; political or economic
developments; foreign taxation risks; environmental risks; insurance risks; capital expenditures; operating or technical
difficulties in connection with development activities; the speculative nature of strategic metal exploration and development
including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project
parameters as plans continue to be refined, as well as those risk factors set out in East Africa’s management’s discussion
and analysis for the year end December 31, 2016, management’s discussion and analysis for the three and six months ended
June 30, 2017 and East Africa’s listing application dated July 8, 2013. Forward-looking statements are based on assumptions
management believes to be reasonable, including but not limited to the timely closing of the financing; the timely closing of
the Handeni Property definitive agreement; the ability of the Company to repay the loan by the required date; the price of gold,
silver, copper and zinc; the demand for gold, silver, copper and zinc; the ability to carry on exploration and development
activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a
timely and cost-efficient manner; the ability to operate in a safe, efficient and effective manner; and the regulatory framework
regarding environmental matters, the renewal or extension of exploration licences, and such other assumptions and factors as
set out herein. Although East Africa has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such information. The Company does not update or
revise forward looking information even if new information becomes available unless legislation requires the Company do so.
Accordingly, readers should not place undue reliance on forward-looking information contained herein, except in accordance
with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.