{kanada_flagge}Under the rules of the Toronto Stock Exchange, Barrick Gold (TSX: ABX) has already deposited the money for the agreed acquisition of shares of Tembo Gold Corp. (TSXV: TEM; FRA: T23A). The money will be released once final regulatory approvals are received in Tanzania in connection with the acquisition of six property licenses. Tembo Gold said today that it expects this formal closing of the transaction to occur in the first quarter of 2022, and that the company is in the process of obtaining the necessary regulatory approvals in Tanzania.
On December 7, 2021, Tembo Gold had announced the sale of six property licenses to Barrick Gold’s Tanzanian subsidiary, Bulyanhulu Gold Mine Limited. Barrick commits to pay USD 6 million and at the same time acquires 5,518,764 shares of Tembo Gold for an additional CAD 1.5 million at a price of CAD 0.27 per share through a private placement. Upon completion of the transaction, Barrick will thus hold a 5.5 percent interest in Tembo.
In addition, Barrick is committed to spending $9 million over four years on exploration on the newly acquired licenses. Tembo could benefit from Barrick’s exploration success with a maximum of another USD 45 million. A copy of the 58-page agreement is filed on Tembo’s corporate profile at www.sedar.com under the date of December 16, 2021.
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According to §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH may hold shares of Tembo Gold and therefore a conflict of interest may exist. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time, which could affect the price of Tembo Gold Corp. shares. In addition, there is a consulting or other service contract between Tembo Gold Corp. and GOLDINVEST Consulting GmbH, with which a further conflict of interest exists, since Tembo Gold Corp. remunerates GOLDINVEST Consulting GmbH for reporting on Tembo Gold Corp.
