checkAd

     707  0 Kommentare Tembo Gold Corp. Enters Subscription Agreement with Investor Group

    TORONTO, ONTARIO--(Marketwired - Oct. 28, 2013) - Tembo Gold Corp. (TSX VENTURE:TEM)(FRANKFURT:T23) ("Tembo" or the "Company") is pleased to announce today that it has entered into a subscription agreement ("Subscription Agreement") with NAMF II (Mauritius) Limited, NAMF II South African Partnership (together "NAMF"), Stratex Gold A.G. ("Stratex") and Concept Capital Management Limited ("CCM") (collectively, the "Investor Group"). The Subscription Agreement provides for the Investor Group to subscribe for up to 44,380,000 subscription receipts (the "Subscription Receipts") at a price per Subscription Receipt of C$0.15 for gross proceeds of up to C$6.657 million to the Company.

    The Subscription Agreement sets forth certain rights of the Investor Group in connection with their security holdings in the Company, including that the Company shall fulfill certain reporting requirements to the Investor Group and the Investor Group members will each be granted a right to maintain their pro rata interest in the Company following the conversion of their Subscription Receipts, subject to maintaining a minimum 5% equity interest in the Company. In addition, the Subscription Agreement provides that the board of directors of the Company will be reconstituted with a majority of directors comprised of nominees of the Investor Group. It is proposed that three current directors of the Company will resign as needed from the board and a nominee of each of NAMF, Stratex, and CCM will be appointed to fill such vacancies. Each nominee will be appointed immediately following the conversion of the Subscription Receipts of the applicable Investor Group member. The Investor Group will also have nomination rights on a going forward basis. These right are subject to each Investor Group member maintaining a minimum 10% equity interest in the Company. The biographies of the proposed directors are as follows:

    Neil Gardyne - Mr. Gardyne is a geologist with over 35 years' experience in exploration and mining ventures in Southern Africa, and has been involved in managing Private Equity/ Venture Capital funds focusing on early stage exploration and mine development in South Africa for the past 12 years. He has a BSc (Hons) degree in Geology from the University of Kwa-Zulu Natal, and is currently a Director on the Board of NAMF II (Mauritius) Ltd, Decorum Capital Partners (Pty) Ltd, and NAMF Corporate Advisory Services (Pty) Ltd.

    Seite 1 von 3





    Verfasst von Marketwired
    Tembo Gold Corp. Enters Subscription Agreement with Investor Group TORONTO, ONTARIO--(Marketwired - Oct. 28, 2013) - Tembo Gold Corp. (TSX VENTURE:TEM)(FRANKFURT:T23) ("Tembo" or the "Company") is pleased to announce today that it has entered into a subscription agreement ("Subscription Agreement") with NAMF II …