# East Africa Metals and Sino Union Energy Group agree on Harvest Project acquisition

East Africa Metals Inc. reached a binding letter of intent with Sino Union Energy Group Limited for Sino Union to acquire a 55% interest in the Harvest Project in Ethiopia for a cash payment of USD $500,000, with Sino Union funding development and operations.

- Type: Acquisition
- Announced: 2020-02-24
- Where: Tigray National Regional State, Ethiopia, Ethiopia
- Value: $500K
- Status: announced
- Products: mining project (Harvest Project)
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [East Africa Metals Inc.](https://endata.com/companies/45459.md) (target)
- [Sino Union Energy Group Limited](https://endata.com/companies/45460.md) (acquirer)

## Sources

- [newswire.ca](https://www.newswire.ca/fr/news-releases/east-africa-metals-and-sino-union-energy-group-agree-to-move-forward-on-harvest-project-acquisition-and-a-3-000-000-private-placement-850545593.html), 2020-02-24: "Sino Union will acquire 55% interest of the Harvest Project by making a cash payment of USD$500K, developing and operating the Terakimti Oxide Mine and funding 100% of TEHI's obligations related to the development and operation of the Harvest Project."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.