Vancouver-listed East Africa Gold has concluded negotiations for a private placement of up to 1.8 million units at $1.35 each.
A unit consists of a share and a warrant entitling the holder to buy an additional share at $1.35. The placement will be completed with Kinross Gold (East Africa’s major shareholder) and other insiders. Proceeds will be used to fund loan commitments to East Africa Mines, a private company, which has gold projects in Tanzania.
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