Tembo Gold (TEM.V) has announced a private placement, raising C$1M at C$0.40/share with 3-year ½ warrant with a strike price of C$0.60.
The entire placement will be taken up by insiders and long term shareholders. The funds will be used to continue exploration drilling at the Tembo gold project in the Lake Victoria District, Tanzania.
Disclosure: The author holds a long position in Tembo Gold Corp. Please see our disclaimer for current positions.