Marketwired March 24 2016 NRNR march 24 2016 : Here the amount of US$ 350K pay in escrow by Tango. I don't know the official date of the payment.
Hope this answer your questions in relation to the amount of US$ 350K. https://web.tmxmoney.com/article.php?newsid=83805563&qm_symbol=TGV
Tango has entered into a Sale of Shares and Claims Agreement with Firestone (the "Firestone Agreement") whereby the Company agreed to acquire 100% of Firestone's right in the processing facility, and interest and title in the mineral rights comprising the BK11 Mine, held directly or indirectly, through Firestone's 100% owned subsidiary, Firestone Diamonds Botswana (Pty) Limited, and Firestone's 90% owned subsidiary, Monak Ventures (Pty) Limited ("Monak") for total consideration of US$8.0M. Tango also entered into a Sale of Shares of Claims Agreement to acquire the remaining 10% interest in Monak from Tema Thuo (Pty) Ltd. for total consideration of US$800,000.
Firestone and Tango agreed to amend certain terms of the Firestone Agreement, such that completion of the BK11 purchase is subject to satisfaction of the following conditions by 8 April 2016 (the "Firestone Closing"):
- Tango raising the balance of the consideration, being US$7.65M;
- Tango raising the aggregate ongoing cumulative Maintenance Fees payable from the 1 August 2015 to the Firestone Closing (subject up to a maximum of US$40,000 per month);
- Obtaining Botswana ministerial approval for the transfer of the controlling interest in Monak; and
- Tango receiving the requisite approvals from the TSX Venture Exchange in respect of the purchase.
If the conditions of the Firestone Agreement are not satisfied or waived by the Firestone Closing date, the purchase will not complete. Furthermore, Tango has agreed to meet certain milestones and in the event such milestones are not met and/or achieved, Firestone has the right to waive such milestones and/or terminate the Firestone Agreement.
-----------------------------------------
Now they need the Loan to pay the balance US$ 7.65 million and pay thirteen month's cummulative maintenance fees so around US$ 520K
I hope monday morning news out about C3$ Million private placement and at the end of the day after market close or before Thuesday morning they have a Halt with mention Reason : At the request of the company pending news. IMHO
DYODD and do the math. GLTA
Raypar