Tango Mining Secures Services of Two Key Executives
08.09.2017 | GlobeNewswire
VANCOUVER, Sept. 08, 2017 - Tango Mining Limited ("Tango" or the “Company”) (TSX-V:TGV) is pleased to announce that, effective 1 July 2017, it has secured the services of two key executives by entering into consulting agreements with each of Samer Khalaf, Chief Executive Officer, and with Terry L. Tucker, Executive Chairman. Under the terms of the consulting agreements, both Mr. Khalaf and Mr. Tucker have agreed to provide their consulting services for a term of one year, renewable annually. In order to assist Tango in conserving cash, Mr. Khalaf has agreed to accept his monthly compensation by the issuance of common shares of Tango, to be issued at the closing price of Tango’s stock on the date of issuance, subject to a minimum price of $0.05 per share. Mr. Tucker has agreed to accept a 55% of his monthly compensation by the issuance of common shares of Tango. For the months of July and August 2017, Mr. Khalaf has been issued 840,000 common shares and Mr. Tucker has been issued 462,000 common shares, which shares were issued at a deemed price of $0.05 per share, being the minimum price pursuant to the policies of the TSX Venture Exchange.
The Company also confirms that the private placement announced on 27 July 2017 has closed and a total of 3,754,840 units were issued for aggregate proceeds of US$150,000 (C$187,742). Each unit consists of one common share and one share purchase warrant entitling the holder thereof to purchase one additional common share at a price of $0.05 per share, exercisable on or before 8 September 2018. The common shares issued under the private placement and any shares that may be issued upon exercise of the share purchase warrants are subject to a four month hold period expiring on 9 January 2018.
On behalf of the Board of Directors of Tango Mining Limited
Mr. Samer Khalaf
CEO
Tango Mining Limited
info@tangomining.com
Neither 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 release.