Tembo Provides Update ON Financing
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TEMBO PROVIDES UPDATE ON FINANCING
Vancouver, December 6, 2019 – Tembo Gold Corp. (TSXV: TEM) ("Tembo" or the "Company”) announces
that, further to our news release dated August 29, 2019 announcing a non -brokered private placement
financing (the “Financing”) of up to C$1.25 million , work is continuing on the F inancing and the Company,
at this time, anticipates closing to be in January 2020.
Pursuant to the Financing t he Company proposes to issue up to 25 million shares of the Company (the
“Shares”), at a price of C$0.05 per Share , to raise gross proceeds of up to C$1.25 million . The Shares will
be subject to a four month and one day hold period from the date of issuance of the Shares. The proceeds
raised from the Financing will be used to cover corporate costs in Canada and Tanzania, general working
capital purposes and to pay down debt.
The Financing remains subject to final acceptance by the TSXV.
About Tembo Gold Corp.
Tembo Gold Cro p (T SX-V: TEM) is a Canadian publicly-listed mineral exploration c ompany 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 more information please contact:
Simon Benstead
Director & VP Business 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.
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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
Financing, including, without limitation, the use 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 reconstitution 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 opi nions 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 i nformation 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 provided 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.