Tembo Gold Corp. (TSXV: TEM) announced a private placement of 20,000,000 common shares at a price of CAD 0.025 for gross proceeds of CAD 500,000 on May 30, 2019. The Company has received approval from TSX Venture Exchange for the pre-filing submission. The shares will be subject to a four month and one day hold period from the date of issuance. The transaction is subject to final approval from TSX Venture Exchange. TSX Venture exchange has accepted filing documentation with respect to the transaction. The transaction will include participation from 7 placees including returning investors 49 North Resources Inc. (TSXV:FNR) for 5,000,000 shares and Concept Capital Management Ltd for 2,600,000 shares.

On the same date, the company received CAD 193,000 in its first tranche closing.