VANCOUVER, BRITISH COLUMBIA — 24 November 2017 – Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) announces that, subject to the approval of the TSX Venture Exchange, it has agreed to issue a C$510,500 (US$400,000) one year unsecured convertible note (the “Unsecured Note”) bearing interest at a rate of 3% per annum. The Company has the option on or before the maturity date to convert, at its sole discretion, all or a portion of the Unsecured Note into units of Tango, with each unit consisting of one common share at a price of C$0.05 per share and one share purchase warrant, exercisable for two years, to purchase one additional share at C$0.10 per share (the “Units”). All or a portion of the accrued and unpaid interest due at the time conversion is also payable by the issuance of Units of Tango at the Company’s discretion at a price not below the trading market price at the time the interest is payable. The underlying common shares issuable upon conversion of the Unsecured Note are subject to a four‐month hold period.
The proceeds from the Unsecured Note will be used for ongoing development of the Company’s current projects, acquisition of new projects and for general working capital purposes.
A cash finder’s fee equal to 5% of the gross proceeds raised for the Unsecured Note may be payable. The private placement is subject to receipt of approval from the TSX Venture Exchange.
On behalf of the Board of Directors of Tango Mining Limited
Mr. Samer Khalaf
Chief Executive Officer
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.