TEM Tembo Gold Corp

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.


Tembo Gold President & CEO, David Scott stated, "We are very pleased to see our
management team and long term shareholders continue to show support through
their participation of this financing. These are very exciting times for Tembo
as we eagerly anticipate the 2013 drilling program which will is designed
delineate resources and extend the depth and strike of high grade mineralization
at Ngula 1."


The Company has received all subscription agreements and will be making all
required filings in order to receive regulatory acceptance of this financing. In
connection with the Private Placement, Tembo may, subject to regulatory
acceptance, pay a finder's fee to certain arm's length parties on portion of the
proceeds raised.


The Offering is subject to acceptance by the TSX Venture Exchange and other
customary conditions for transactions of this nature. The net proceeds from the
Offering will be used to continue the mineral exploration activities of the
Company and for general working capital purposes.


About Tembo Gold Corp.

Tembo Gold Corp. (TSX VENTURE:TEM)(FRANKFURT:T23) is a Canadian publicly-listed
mineral exploration company with a 100% interest in the Tembo Gold Project which
is located adjacent to African Barrick's 14Moz Bulyanhulu Gold Mine in the
prolific Lake Victoria Greenstone belt in Tanzania. Tembo's focus is the
discovery and development of world-class gold projects in Africa. The Company
has assembled a highly experienced team with a proven history of developing,
financing, and operating mining projects in Africa. The Company's exploration
strategy is to discover mineral resources as well as continue to look for
additional opportunities that can bring value to the Company and shareholders.


On Behalf of the Board of Directors of Tembo,

David Scott, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Tembo Gold Corp.
Marc Cernovitch
Director & VP Business Development
416.619.9010
mcernovitch@tembogold.com

Tembo Gold (TSXV:TEM)
Historical Stock Chart
From Dec 2024 to Jan 2025

Tembo Gold (TSXV:TEM)
Historical Stock Chart
From Jan 2024 to Jan 2025