VANCOUVER, BC, Feb. 24,
2023 /CNW/ - East Africa Metals Inc. (TSXV: EAM)
("East Africa" or the "Company") announces the change in its
financial year end from December 31
to March 31.
The change in financial year-end has been made to align the
timing of the Company's financial reporting obligations with the
availability of the Company's service providers.
The Company will file the interim financial statements for the 3
and 12 months ended December 31, 2022
on or before March 1, 2023, and
audited financial statements for the transition year ended
March 31, 2023 on or before
July 31, 2023. Further details
regarding the change in financial year end will be available in the
Company's notice of change in year-end prepared in accordance with
Section 4.8 of National Instrument 51-102 – Continuous Disclosure
Obligations and filed under the Company's SEDAR profile at
www.sedar.com.
Additional information about East
Africa can be viewed at the Company's website at
www.eastafricametals.com or at www.sedar.com.
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",
"indicate" 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: timing
of receipt of mining permit; timing of mining development;
projected heap leach recoveries ; 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 Properties; 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; personnel
relations; 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 in East Africa's management's discussion and
analysis for the three months and nine months ended September 30, 2018 and for the year ended
December 31, 2017, and East Africa's listing application dated
July 8, 2013 Mineral Resources which
are not Mineral Reserves do not have demonstrated economic
viability. The contained gold, copper and silver figures shown are
in situ. No assurance can be given that the estimated quantities
will be produced. 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 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; the renewal or extension of
exploration Licenses; the regulatory framework regarding
environmental matters, 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.
SOURCE East Africa Metals Inc.
