VANCOUVER, BRITISH COLUMBIA — 29 October 2019 – Tango Mining Limited (“Tango” or the “Company”) (TSX.V – TGV) announces that the TSX Venture Exchange (the “Exchange”) has approved the Company’s change of name from Tango Mining Limited to Southstone Minerals Limited and a consolidation of its share capital on the basis of one post-consolidated share for each ten pre-consolidated shares.
The Company’s common shares will commence trading on the Exchange under the new name and on a post-consolidated basis at market open on Tuesday, 29 October 2019 under the trading symbol “SML”. The new CUSIP number is 84473K107 and the new ISIN number is CA84473K1075. The Company has launched a new website at www.southstoneminerals.com concurrently with new email addresses.
No fractional shares will be issued under the share consolidation as fractional shares will be rounded down to the nearest whole number. The Company previously had 232,602,139 common shares issued and outstanding and immediately following the share consolidation has 23,260,213 common shares issued and outstanding.
Letters of transmittal will be mailed to the registered holders of common shares, requesting that they surrender their certificates representing the pre-consolidated common shares under the old name of the Company to the Company’s registrar and transfer agent, TSX Trust Company, in exchange for new common share certificates representing post-consolidated common shares under the new name of the Company.
Non-registered shareholders of the Company holding their common shares through a bank, broker or other nominee should note that such banks, brokers or other nominees may have different procedures for processing the share consolidation and name change than those that will be put in place by the Company for registered shareholders. If you hold your common shares with such a bank, broker or other nominee and if you have any questions in this regard, you are encouraged to contact your nominee.
ON BEHALF OF THE BOARD OF DIRECTORS OF
TANGO MINING LIMITED
Mr. Samer Khalaf
Chief Executive Officer
Southstone Minerals Limited
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.
Certain information set forth in this news release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “forecasts”, estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them.
Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to statements with respect to the estimation of mineral resources; the realization of mineral resource estimates; anticipated future production, capital and operating costs; cash flows and mine life; potential size of a mineralized zone; potential expansion of mineralization; potential types of mining operations; permitting timelines; government regulation of exploration and mining operations; risks that the presence of diamond deposits mentioned nearby the Company’s property are not indicative of the diamond mineralization on the Company’s property, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, risks that the actual revenues will be less than projected; risks that the target production for the existing mining contracts will be less than projected or expected; risks that production will not commence as projected due to delay or inability to receive governmental approval of the Company’s acquisition or the timely completion of an NI43-101 report; technical problems; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; foreign exchange fluctuations and foreign operations; various events which could disrupt operations, including labor stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks.
The forward-looking statements and information contained in this news release are based on certain assumptions regarding, among other things, future prices for coal and diamonds; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this news release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue.