Stratex completes Tembo funding

Stratex International, the Aim-listed gold and base metals explorer, yesterday said it has completed its private placement in Canada-headquartered gold explorer Tembo Gold Corporation. Stratex’s subsidiary Stratex Gold has been issued 17.5m shares in Africa-focused Tembo priced at C$0.10 (6p) per share, in return for a subscription of C$1.75m. “We are delighted that the equity financing has now been completed, subject only to final approval by the TSX Venture Exchange,” said Dr Bob Foster, chief executive of Stratex.