VANCOUVER, British Columbia, July 04, 2017 (GLOBE NEWSWIRE) -- Tango Mining Limited (“Tango” or the “Company”) (TSXV:TGV) is pleased to announce that Samer Khalaf, who was appointed as non-executive director on 3 April 2017, has accepted the position of Chief Executive Officer of the Company.
Samer has over 25 years of investment banking experience in the Middle East, Africa and Europe and has held senior positions at various institutions including Nomura Securities, Gazprombank and PrimeCorp Finance SA. His most recent position was as Director for Africa & Middle East at GPB Global Resources. Samer holds an economics degree from Syracuse University and an MBA in finance from Columbia Business School. He has also completed the executive program for energy at Harvard Business School.
Mr. Terry L Tucker, Executive Chairman and former Interim Chief Executive Officer stated: “I am very pleased to have Samer assume the role of Chief Executive Officer. He brings a wealth of experience to the Company and will provide strong leadership to Tango as it continues to develop and expand its operations in South Africa and the rest of the continent.”
The Company also confirms that it has issued 1,364,500 common shares in the capital stock of the Company at a price of $0.05 per share in full and complete settlement of indebtedness with three creditors for an aggregate of $68,225.
About Tango Mining Limited
Tango via its South African subsidiaries hold three thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 Mt of coal per annum, with clientele that include Exxaro. The three projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province, South Africa. The Company also holds an interest in the Oena Diamond Mine, an alluvial diamond property, Northern Cape Province, South Africa. Tango has a continued development plan in place to grow the business using the successful past 19-year business model of the South African operations, an established market presence and its proven successful operational reputation in the coal, base and precious metal and precious stone mining sector in Africa.
