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Tango Mining secures consulting services of senior execs

To save Tango money, shares will be issued to the executives in lieu of cash
Miner
South Africa-focused Tango is taking control of the Oena mine in Northern Cape

Tango Mining Ltd (CVE:TGV) has entered into consulting agreements with Samer Khalaf, chief executive officer, and Terry Tucker, executive chairman, effective from 1 July, 2017.

Under the terms of the consulting agreements, both Khalaf and Tucker have agreed to provide their consulting services for a term of one year, renewable annually.

Khalaf has agreed to accept his monthly compensation in Tango shares and Tucker has agreed to accept 55% of his monthly compensation in the same way.

The former has received 840,000 shares since the beginning of July and the latter has received 462,000.

The company also confirmed the private placement announced on July 27, 2017, has closed; in total, US$150,000 or C$$187,742 was raised.

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Tango Mining Timeline

Newswire
August 04 2017

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