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TORONTO, ONTARIO--(Marketwire - March 13, 2013) - Tembo Gold Corp. (TSX VENTURE:TEM)(FRANKFURT:T23) ("Tembo" or the "Company") is pleased to announce that, subject to regulatory acceptance, it will complete a non-brokered private placement of up to 2,500,000 units (the "Units") to subscribers resident in Canada and certain offshore jurisdictions at a price of $0.40 per Unit for gross proceeds of up to $1,000,000. Each Unit will consist of one common share and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each such Warrant will entitle the holder to purchase one common share of the Company at a price of $0.60 per common share for a period of 36 months from the closing date of the Offering. Securities issued under the Offering will be subject to a four month hold period from the date of closing. The majority of the participants of this financing consist of management, insiders and significant long term shareholders of the Company. |
