Tembo Closes $795,000 Non-Brokered Private Placement
TEMBO CLOSES $795,000 NON-BROKERED PRIVATE PLACEMENT
Vancouver, August 11, 2020 – Tembo Gold Corp. (TSXV: TEM) ("Tembo" or the "Company”) is pleased to
announce the closing of its non-brokered private placement financing (the “ Financing”) announced on
July 22, 2020. The Company raised gross proceeds of $795,000 by issuing 5,300,000 common shares (the
“Shares”) at a price of $0.15 per Share. The proceeds will be used for general working capital. Insiders of
the Company participated in the Financing. All Shares issued are subject to a four month hold period from
the date of closing.
About Tembo Gold Corp.
Tembo 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 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 conti nue 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 more information please contact:
Simon Benstead
Director & VP Corporate Development
Phone: 604-685-9316
Email: [email protected]
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.
Cautionary Note Regarding Forward-Looking Statements
Certain information set out in this news release constitutes forward-looking information. Forward looking statements
are often, but not always, identified by the use of words such as "seek", "anticipate; "plan", "continue; "estimate;
"expect", "may, "will" , "intend", "could", "might", "should", "believe" and similar expressions. This news release
contains forward-looking statements in respect of certain anticipated goals and expectations in connection with the
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Financing, including, without limitation, the u se of the net proceeds from the Financing, the receipt of applicable
shareholder approval in connection with the change of control of the Company, the anticipated lock -up and voting
arrangements to be entered into by the Investor Group, the anticipated rec onstitution of the board of directors of
Tembo, the anticipated approval of the TSXV for the Financing and the expectation that Tembo will remain a public
company following the change of control. Forward-looking statements are based upon the opinions and expectations
of management of the Company as at the effective date of such statements and, in certain cases, information
provided or disseminated by third parties. Although the Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, and that information obtained from third party
sources is reliable, they can give no assurance that those expectations will prove to have been correct. The forward -
looking statements contained herein after provide d for the purpose of providing readers with the Company’s
expectations and goals in connection with the Financing, and may not be suitable for other purposes. Readers are
cautioned not to place undue reliance on forward-looking statements.