BASANITE INC. SIGNS TERM SHEET WITH EASTMAN MINERALS FOR PROPOSED $2 MILLION INVESTMENT IN SOMALILAND GOLD PROCESSING PROJECT
Basanite executed a term sheet to invest $2 million in Eastman Minerals' Goroya Cawl gold processing plant in Somaliland, securing a 40% ownership stake. The transaction includes a $400,000 bridge deposit advanced by SAMCO, with the remaining $1.6 million expected upon closing of definitive agreements within 30 days.
Key figures
- Deal Value Usd
- 2000000
- Bridge deposit
- 400000
- Ownership interest pct
- 40
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