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East Africa Metals Lists on TSX Venture Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - July 12, 2013) - East Africa Metals (TSXV: EAM)...
About this update from East Africa Metals, Inc.
[{"type":"text","content":"\nEast Africa Metals Lists on TSX Venture Exchange - Video News Alert on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - July 12, 2013) - East Africa Metals (TSXV: EAM) lists on the TSX Venture Exchange. The company was a wholly-owned subsidiary of Canaco Resources and was formed for the purpose of a spinout of the assets of Canaco which will include all the assets and liabilities of Canaco other than the $60 million in cash and certain liabilities. InvestmentPitch.com has produced a \"video news alert\" which provides a brief overview of East Africa Metals. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"East Africa\" in the search box. If you cannot view the video above, please visit:http://www.investmentpitch.com/video/0_zqfnuj4j/East-Africa-Metals-TSXV-EAM-New-Listing The company's principal asset is the Handeni Property located in north-eastern Tanzania, which covers an area of approximately 97 square kilometres and consists of two key tenured blocks known as Handeni and Magambazi. Gold was discovered by locals in the Magambazi area in 2003, spurring a gold rush with intense alluvial and hard rock mining.Canaco acquired the Handeni property in 2007 and began drilling at Magambazi in 2009, with the first hole proving to be the discovery hole, returning 53 metres grading 4.32 grams per tonne gold. Andrew Lee Smith, Interim CEO stated, \"We believe that the company is well positioned to take advantage of the current market conditions and attractive valuations to build long-term shareholder value through the optimization and advancement of existing assets and accretive acquisitions.\" The shares are currently trading at $0.25 and with 67.3 million shares outstanding, the company is capitalized at $16.8 million, which is less than the $23.8 million the company has in cash. For more information about the company, please visit the company's website at www.EastAfricaMetals.com or contact Nick Watters at 604-488-0822 or by email at [email protected]. About InvestmentPitch InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing short three minute videos based on significant news releases and res...