Tembo Gold Corporation (TEM-V), Dec 23, '13 has completed the second tranche of its previously announced non-brokered private placement for aggregate gross proceeds of approximately C$1,388,252.
Tembo closed the first non-brokered tranche of the Placement on December 2, 2013 for aggregate gross proceeds of approximately C$5,948,890.10.
The Placement marks a co-investment by Stratex (C$1,750,000), New Africa Mining Fund II (C$3.5 million) and Concept Capital Management Ltd (C$1.0 million), together with other investors. Funds invested are to be focussed largely on exploration drilling, which is already underway, at the Tembo gold property in Tanzania, a package of c.100 km2 of highly prospective licences adjacent to African Barrick Gold’s Bulyanhulu Mine.
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