Vancouver, British Columbia--(Newsfile Corp. - May 19, 2022) - Tembo Gold Corp. (TSXV: TEM) ("Tembo", or the "Company") announces that it has retained Adelaide Capital Markets Inc. ("Adelaide"), an Ontario-based corporation, to provide digital marketing services to the Company for an initial term of six months effective June 1, 2022. The Company has agreed to pay Adelaide a total of $24,000 in six equal instalments of $4,000 commencing on June 1st 2022. The Company has also granted 125,000 stock options to Adelaide, exercisable at a price of $0.245 per share, expiring on the earlier of 180 days following termination of the agreement or five years from the date of grant, with 25% vesting every three months beginning September 1, 2022. The above is subject to TSX Venture Exchange approval.
Adelaide was founded by Deborah Honig and is an arm's length company based in Toronto, Ontario. Adelaide is a full-service investor relations firm. As of the date hereof, Adelaide does not have any interest, directly or indirectly, in the Company or its securities, or any right to acquire such an interest.
About Tembo
Tembo Gold is a Canadian public company listed on the TSX Venture Exchange ("TSX-V") under the symbol TEM. The Company currently has 100% interest in the Tembo Gold Project which is located adjacent to African Barrick's 20Moz Bulyanhulu Mine in the prolific Lake Victoria Greenstone belt in Tanzania. Our 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.
On Behalf of the Board of Directors of Tembo,
David Scott
President & CEO
Phone: +255 767 366 146
Email: dscott@tembogold.com
For more information please contact:
Simon Benstead
Director & CFO
Phone: 604-685-9316
Email: investors@tembogold.com
Marc Cernovitch
Director & VP Corporate Development
Phone: +1 647 203 7868
Email: mcernovitch@tembogold.com
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.
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