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| Home : Tembo Gold Corp. Obtains Shareholder Consent for Previously Announced Strategic Private Placement |
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Oct 25
2013 |
Tembo Gold Corp. Obtains Shareholder Consent for Previously Announced Strategic Private Placement |
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TORONTO, ONTARIO--(Marketwired - Oct. 25, 2013) - Tembo Gold Corp. (TSX VENTURE:TEM)(FRANKFURT:T23) ("Tembo" or the "Company") is pleased to announce that it has obtained the necessary shareholder consent to move forward with its private placement of up to C$8.657M previously announced on October 8, 2013. The Company expects to enter into a subscription agreement ("Subscription Agreement") with NAMF II (Mauritius) Limited, NAMF II South Africa Partnership (together "NAMF"), Stratex Gold A.G. ("Stratex") and Concept Capital Management Limited ("CCM") (collectively, the "Investor Group") in the coming days. It is expected that the Subscription Agreement will provide for the Investor Group to subscribe for up to 44,380,000 subscription receipts (the "Subscription Receipts") at a price per Subscription Receipt of C$0.15 for gross proceeds of up to C$6.657 million. Additionally, the Company intends to raise up to C$2M independently from the Investor Group. |
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| Source:http://www.marketwired.com/mw/release.do?id=1844950&sourceType=3 |
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