Vancouver, May 29th 2020 – Tembo Gold Corp. (TSXV: TEM) (“Tembo” or the “Company”) is providing an update on the status of the filing of its annual financial statements and accompanying management’s discussion and analysis for the financial year ended December 31, 2019 together with the related officer certificates (collectively, the “Annual Filings”), which were required to be filed by April 29, 2020 under National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”). As previously announced, the Company is relying on the 45-day filings extension for its Annual Filings provided under B.C. Instrument 51-515 – Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”). The 45-day extension is being provided in response to the COVID- 19 pandemic, for certain periodic filings that are required to be made on or before June 1, 2020.
The Company also intends to rely on the extension provided by BCI 51-515 for its interim financial statements andaccompanying management’s discussion and analysis for the three months ending March 31, 2020, together with the related officer certificates (collectively, the “Interim Filings”) as required by Part 4 and Part 5 of NI 51-102 and Part 5 of National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings. The Company continues to work diligently and expeditiously to file its Annual Filings and Interim Filings before June 14, 2020 and July 16, 2020, respectively. At this time it is not certain that the Company can meet these deadlines and accordingly the Company is making necessary plans for additional filings with regulatory authorities to extend the filing deadlines.
The Company’s directors, officers and other insiders are subject to a trading blackout that reflects the principals described in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, until such time as it is no longer applicable. The Company confirms that there have been no material business developments that have occurred subsequent to the filing of the Company’s September 30, 2019 interim financial statements on November 28, 2019, that have not already been disclosed by the Company through news releases filed on SEDAR.
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 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,
President & CEO
For more information please contact:
Director & VP Business Development
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, including, without limitation, the anticipated filing date for the Annual Filings and the Interim Filings. 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. Readers are cautioned not to place undue reliance on forward-looking statements.
These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include that the Company does not file its Annual Filings or Interim Filings by the anticipated date. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.