Tembo Gold Corp (TSXV:TEM) announced a non-brokered private placement of up to 12,800,000 units a price of CAD 0.10 per unit for total gross proceeds of up to CAD 1,280,000 on January 2, 2014. Each unit consists of one common share and one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share of the company at a price of CAD 0.12 per share for a period of three years from the issuance of the units. The transaction will see participation from the existing investors, NAMF II (Mauritius) Limited will invest up to CAD 218,400, NAMF II South African Partnership, a fund managed by Decorum Capital Partners will invest CAD 61,600, and Concept Capital Management Limited will invest up to CAD 1,000,000. All the securities will be subject to a four month and one day hold period from the closing date. The transaction is subject to approval of the TSX Venture Exchange.

On January 9, 2014, the company announced that it has received CAD 280,000 by issuing 2,800,000 units in its first close from NAMF II (Mauritius) Limited and NAMF II South African Partnership, a fund managed by Decorum Capital Partners. Investors are insiders of the company and now holds collectively approximately 30.1% stake of the company on a non-diluted basis. Through the first tranche, the investors acquired approximately 2.2% stake of the company. Each warrant issued in this tranche is exercisable until January 9, 2017. The securities issued in this tranche are subject to a hold period expiring May 10, 2014. All the directors of the company approved the transaction. As part of the transaction, the board of the company considers the nominee appointed by investors to be an independent member of the board. The offering remains subject to the final approval of the TSX Venture Exchange.