Business
With the Support of New Strategic Partner Taifa Group, Tembo to Change Name and Reposition for Growth and Consolidation in Tanzania
Vancouver, British Columbia--(Newsfile Corp. - November 30, 2023) - Tembo Gold Corp. (TSXV: TEM)...
About this update from Lake Victoria Gold Ltd
[{"type":"text","content":"With the Support of New Strategic Partner Taifa Group, Tembo to Change Name and Reposition for Growth and Consolidation in TanzaniaVancouver, British Columbia--(Newsfile Corp. - November 30, 2023) - Tembo Gold Corp. (TSXV: TEM) (\"Tembo\" or the \"Company\") announces its plans for a new corporate identity and strategy. Further to its news releases dated August 10th & 29th, 2023 regarding the acquisition of the Imwelo & Dora Gold Projects (the \"Projects\") with combined historical resources of over 800,000 ounces and the C$11,520,000 financing with Taifa Group (\"Taifa\"), now is the right time to amend our corporate identity to better represent the Company's new goals and strategy of quickly evolving into a vehicle for growth and consolidation in the Lake Victoria Greenstone Belt.The Company is pleased to announce the following developments:Name Change to Lake Victoria Gold Ltd. (\"LVG\")The Company will proceed to implement, subject to necessary regulatory approval , a name change to Lake Victoria Gold Ltd. which better reflects our unique position in one of the most prolific and prospective greenstone belts in the world.Management ChangesTo facilitate this transition, founding director, Marc Cernovitch, will become CEO; Simon Benstead, long serving director and CFO, will also become Executive Chairman; and Seth Dickinson will become COO and immediately be appointed to the board of directors. David Scott, in his new role as Managing Director Tanzania and special geological advisor to the board, will work closely with Marc, Simon and Seth with a focus on identifying and evaluating accretive opportunities for the Company. The Company also enthusiastically looks forward to welcoming Richard Reynolds to the board of directors, upon closing of the transaction with Taifa, anticipated to take place in Q1 2024.\"Lake Victoria Gold is committed to growth and best practices in Tanzania, and I'm honoured and energized to be working with this team to build an East African mid tier gold producer and development company. We are hitting the ground running with ambitious plans and a world class team to execute. The recently announced acquisitions align perfectly with our commitment to identify, evaluate, and acquire accretive projects. Our focus is on high quality assets that offer near term development opportunity with strong r...