Tango Mining Limited (TSXV:TGV) entered into an agreement to acquire Firestone Diamonds (Botswana) (pty) Ltd. and 90% in Monak Ventures (Pty) Limited from Firestone Diamonds plc (AIM:FDI) for $8 million in cash on July 8, 2015. Tango will pay $0.4 million immediately, $0.3 million will be placed in escrow as a deposit by no later than September 30, 2015 and the remainder will be paid on completion. The deal will be financed from a loan of $10 million. The deal is subject to Tango Mining raising the consideration, approval from the Botswana Competition Authority, TSX Venture Exchange and Botswana ministry. The deal was approved by TSX Stock Exchange. As of September 28, 2015, Botswana Competition Authority approved the deal. As of October 2, 2015, Tango Mining has informed Firestone that it has not been able to pay $0.3 million into escrow as a deposit by September 30, 2015 and has now formally requested an extension. The deal is expected to close by April 8, 2016. Furthermore, Tango Mining has agreed to meet certain milestones prior to April 8, 2016, and in the event such milestones are not met Firestone has the right to waive such milestones and/or terminate the deal. As of October 13, 2015, Tango raising the balance of the consideration, being $6.75 million. All conditions of the agreement must be satisfied by no later than July 29, 2016. In accordance with the terms of the agreement, the revised drop dead can be extended, in certain circumstances, to August 29, 2016. If the conditions of the CSA and amendment letter are not satisfied or waived by the revised drop dead date, the disposal will not complete. Firestone Diamonds has agreed to extend the date by when all conditions must be satisfied. Pursuant to a further amendment of the conditional sale agreement, all conditions of the conditional sale agreement must now be satisfied by no later than August 29, 2016. This extension is to enable Tango Mining to finalise the proposed $30 million loan commitment with Vanderbilt Commercial Lending, Inc. All other material terms of the amended conditional sale agreement remain the same and accordingly, if the conditions of the conditional sale agreement are not satisfied or waived by the Revised Drop Dead Date, the Disposal will not complete.

Stuart Faulkner, Richard Tulloch and James Dance of Strand Hanson Limited acted as financial advisors to Firestone while Jos Simson of Tavistock acted as public and investor relations advisor. QuestCo (Pty) Limited acted as financial advisor to Firestone.

Tango Mining Limited (TSXV:TGV) cancelled the acquisition of Firestone Diamonds (Botswana) (pty) Ltd. and 90% in Monak Ventures (Pty) Limited from Firestone Diamonds plc (AIM:FDI) on September 12, 2016. Firestone Diamonds was not able to meet the conditions for the disposal of the company's Botswana operations. Accordingly, the conditional sale agreement signed on September 9, 2016 lapsed.