Vancouver, April 28, 2020 – Tembo Gold Corp. (TSXV: TEM) (“Tembo” or the “Company”) announces that on March 23, 2020, the Canadian Securities Administrators (“CSA”)issued a notice stating that securities regulators will be providing co-ordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020, as a result of the COVID-19 pandemic. As such, the B.C. Securities Commission (“BCSC”) has enacted B.C. Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51- 515”).
The Company intends to rely on the extension provided by BCI 51-515 in respect to the filing of its audited Annual Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the year ending December 31, 2019. The Company will work with its auditors to try to file its annual documents on or before June 15, 2020.
Furthermore, the Company’s directors, officers and other insiders will be subject to a trading blackout until such time as the annual documents are filed. 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
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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 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 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.