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VANCOUVER, BC--(Marketwired - January 17, 2017) - East Africa Metals Inc. (TSX VENTURE: EAM) ("East Africa" or the "Company") East Africa announces that SinoTech (Hong Kong) Corporation Limited, an insider of the Company, has agreed to provide an unsecured loan to the Company in the amount of $500,000 at an interest rate of 12% per annum. The loan and all accrued and unpaid interest (non-compounding) is payable upon the earlier of (a) 10 business days after the Company's closing of the $5,200,000 financing with Shandong Tyan Home Co., Ltd. (see news release dated January 9, 2017); or (b) 90 days from the Company's receipt of the loan proceeds. East Africa understands that the Shandong Tyan Home Co., Ltd financing is in its final regulatory approval process. |
