This news release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation, including: the closing of the Transaction and the Private Placement, including the satisfaction of the closing conditions thereunder and the expected timing thereof, and receipt of all regulatory approvals, including the approval of the TSXV and the Tanzania Fair Competition Commission for the Transaction, and the approval of the TSX Venture Exchange and the Bank of Tanzania with respect of the Private Placement and the Company’s intention to provide further updates in respect of the Transaction and the Private Placement. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.Ĭautionary Statement Regarding Forward-Looking Information On Behalf of the Board of Directors of Tembo, 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. The Company has assembled a highly experienced team with a proven history of developing, financing, and operating mining projects in Africa. Tembo’s focus is the discovery and development of gold projects in Africa. Tembo is a Canadian publicly listed mineral exploration company (TEM on the TSX Venture Exchange) with a 100% interest in the Tembo Gold Project.
The Company expects to provide further updates in due course. Further, as required by the TSX Venture Exchange, Barrick on behalf of Bulyanhulu, has paid the subscription funds in respect of the equity investment (the “ Private Placement“) to the Company’s legal counsel to be held in escrow pending the completion of the Transaction and the Private Placement.Īs previously announced, closing of the Transaction and Private Placement is expected to occur in the first quarter of 2022. The Company is in the process of obtaining the required regulatory approvals in Tanzania as more particularly set out in the asset purchase agreement a copy of which has been filed on the Company’s profile on SEDAR in order to complete the sale of the non-core licenses (the “ Transaction“).
#Tembo gold update#
( TSXV: TEM) (“ Tembo” or the “ Company“) is pleased to provide this update to its news release dated December 7 th, 2021 regarding the sale of non-core licenses to, and an equity placement by, Barrick Gold Corporation‘s (“ Barrick“) Tanzanian subsidiary, Bulyanhulu Gold Mine Limited (“ Bulyanhulu“). Vancouver, British Columbia–(Newsfile Corp.
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