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Tembo Gold Corp Announces Closing Of Equity Financing


Tuesday, 27 Nov 2012 03:00am EST 

Tembo Gold Corp announced that it has issued 450,000 units of the Company at a price of CAD0.50 per Unit for aggregate gross proceeds of CAD225,000 in the final tranche of previously announced private placement. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a Warrant). Each Warrant is exercisable for one common share of the Company until May 23, 2014 at an exercise price of CAD0.80. The securities issued are subject to a hold period expiring March 24, 2013. The Company issued 5,896,000 Units at a price of CAD0.50 per Unit for aggregate gross proceeds of CAD2,948,000 pursuant to the brokered portion of the Offering, which closed on October 25, 2012. The Company then issued an aggregate of 2,139,000 Units at a price of CAD0.50 per Unit for aggregate gross proceeds of CAD1,069,500 pursuant to the non-brokered portion of the Offering, which closed in two tranches, on November 9, 2012 and November 23, 2012. In aggregate the Company issued 8,035,000 Units at a price of CAD0.50 per Unit for aggregate gross proceeds of CAD4,017,500. The net proceeds from the Offering will be used for the exploration and development of the Company's projects in Tanzania and for general working capital purposes. 

Company Quote

0.045
0.0 +0.00%
22 Aug 2014