Vancouver, British Columbia – (Newsfile Corp. – August 3, 2021) – Phoenix Gold Fund Limited (“Phoenix”) of Kuala Lumpur, Malaysia, has announced the acquisition of 10,000,000 common shares of Tembo Gold Corp. (the “Issuer”) in a non-brokered private placement (the “Offer”). Phoenix acquired the common stock at a price of $ 0.15 per share for a total purchase price of $ 1,500,000. The registered office of the Issuer is located at # 1305-1090 W. Georgia St, Vancouver, BC, V6E 3V7.
Immediately prior to the takeover, Phoenix owned 999,999 common shares in the issuer, which corresponds to 1.26% of the issued and outstanding shares of the issuer. As a result of the Acquisition, Phoenix now owns and controls 10,999,999 common shares, representing approximately 11.75% of the Issuer’s issued and outstanding shares on a basic basis (which is approximately 10.49% increase over the previous offering from Phoenix). Share ownership undiluted). The above-mentioned holdings are calculated as of July 30, 2021, provided that no further ordinary shares of the issuer have been issued. Phoenix does not economically own or control any convertible securities of the Issuer.
Phoenix acquired the securities for investment purposes. Phoenix may in the future participate in financing and / or acquire or dispose of securities of the Issuer in the market, privately or otherwise, subject to a number of factors including general market conditions and other available investment and business opportunities.
The disclosure in this news release regarding Phoenix’s interests is made in accordance with National Instrument 62-104 and a report regarding the above acquisition will be filed with the appropriate securities regulators using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be filed on View available at www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91795
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