Tsodilo Resources Limited Announces Appointment of Director

Rhea-AI Summary

Tsodilo Resources (TSXV: TSD) (OTCQB: TSDRF) has appointed Mr. Mosimanegape ('Gape') Mogegeh to its Board of Directors effective February 10, 2025, pending TSX Venture Exchange approval. Mogegeh will also join the boards of Tsodilo's Botswana subsidiaries.

Mogegeh brings over 20 years of experience in financial services, specializing in asset management, private equity, and corporate finance. He founded a leading private equity fund management company in Botswana, managing commitments exceeding BWP 540 million. His experience includes roles at Botswana Development , Deloitte Botswana, and currently serves as Executive Director at Catapult Advisors.

As part of his appointment, Mogegeh has been granted 200,000 stock options at CDN $0.16 per share, valid for five years with vesting in four equal installments between February 2025 and August 2026.

Positive

• Appointment of experienced financial executive with over 20 years in asset management and private equity
• Addition of local Botswana market expertise to the board
• Proven track record in managing large financial commitments (BWP 540 million)
• Extensive experience in mining sector advisory and corporate finance

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - February 10, 2025) - Tsodilo Resources Limited (TSXV: TSD) (OTCQB: TSDRF) (FSE: TZO) ("Tsodilo" or the "Company") is pleased to welcome Mr. Mosimanegape ("Gape") Mogegeh as a member of its Board of Directors ("Board") effective February 10, 2025, and subject to TSX Venture Exchange approval. Mr. Mogegeh will also be joining the Boards of Tsodilo's Botswana subsidiaries, Newdico (Pty) Ltd, Gcwihaba Resources (Pty) Ltd. and Bosoto (Pty) Ltd.

Gape has over 20 years' experience in the financial services industry, specifically in the asset management, private equity, structured finance and corporate finance and advisory fields. He holds a Bachelor of Accounting degree from the University of Botswana and has attended a number of private equity courses offered by Southern Africa Venture Capital and Private Equity Association ("SAVCA"), The African Private Capital Association ("AVCA"), European Venture Capital Association ("EVCA", now "Invest Europe"), and National Venture Capital Association ("NVCA"), and Mergers & Acquisitions studies at the Amsterdam Institute of Finance ("AIF"). Gape has garnered years of experience in transaction structuring, financial analysis and modelling, valuations and portfolio management and founded and established the operations of one of the leading private equity fund management companies in the Botswana market. This involved the establishment of a commandite partnership with commitments in excess of BWP 540 million for the Botswana and Southern Africa regional market.

Previously, Gape worked for the Botswana Development Corporation ("BDC") as Investment Principal, playing a key role in the transformation agenda for the business, which resulted in a major rebalancing of the company's investment portfolio. Before BDC, Gape worked for Deloitte Botswana as a Senior Manager in Corporate Finance, overseeing the in-country delivery of corporate finance and advisory services (M&A Advisory, Due diligence reviews, Valuations, Debt and Equity Capital raisings, Listings, and other services). Gape has also worked at Inflection Capital Partners (Private Equity Firm - JHB, RSA) as an Investment Officer, and at BIFM Capital as an Investment Professional. Prior to joining BIFM Capital, Gape was with the first dedicated venture capital fund manager in Botswana, VPB.

In his current role as Executive Director at Catapult Advisors, Gape has completed a number of corporate finance and advisory assignments in the mining space, including capital raising and structuring for a local consortium, and as a subcontractor constructing a business model validation for a large mining services company; development of a commercialisation and optimisation strategy for subsidiaries of one of the largest mining companies in Botswana; and, separately, a diversity and inclusion study for the same company.

Tsodilo's Chairman and CEO, James M. Bruchs, stated, "Gape will bring immense value to the board, and we are looking forward to drawing from his experience as we take the Company and its subsidiaries to the next growth phase."

With respect to the terms of the Stock Option Plan of the Company, and a policy adopted by the board of directors in September 2002, 200,000 stock options were granted to Mr. Mogegeh to be effective on February 10, 2025, at CDN $0.16 per common share. These options are valid for five years and vest in four equal installments on February 10, 2025, August 10, 2025, February 10, 2026, and August 10, 2026.

About Tsodilo Resources Limited

Tsodilo Resources Limited is an international metals and diamond exploration company engaged in the search for economic diamond and metal deposits at its Gcwihaba Resources (Pty) Limited ("Gcwihaba") and Bosoto (Pty) Limited ("Bosoto") projects in Botswana. The Company has a 100% stake in its Gcwihaba project area consisting of five metal (base, precious, platinum group, and rare earth) prospecting licenses all located in the North-West district of Botswana and 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana. Tsodilo manages the exploration of the Gcwihaba and Bosoto projects.

FOR FURTHER INFORMATION PLEASE CONTACT:

James M. Bruchs Chairman and Chief Executive Officer JBruchs@TsodiloResources.com
Head Office Telephone +1 416 800-4214Facsimile +1 416 987-4369
Website www.TsodiloResources.com

This press release may contain forward-looking statements. All statements, other than statements of historical fact, which address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements pertaining to the use of proceeds, the impact of strategic partnerships and statements that describe the Company's future plans, objectives or goals) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-Looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in equity markets, changes in general economic conditions, market volatility, political developments in Botswana and surrounding countries, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, exploration and development risks, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Forward-Looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to availability and cost of funds, timing and content of work programs, results of exploration activities, interpretation of drilling results and other geological data, risks relating to variations in the diamond grade and kimberlite lithologies; variations in rates of recovery and breakage; estimates of grade and quality of diamonds, variations in diamond valuations and future diamond prices; the state of world diamond markets, reliability of mineral property titles, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, operational and infrastructure risk and other risks involved in the diamond exploration and development business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty. Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240094

FAQ

When will Gape Mogegeh join Tsodilo Resources (TSDRF) board of directors?

Gape Mogegeh will join Tsodilo Resources' board of directors effective February 10, 2025, subject to TSX Venture Exchange approval.

How many stock options were granted to Mogegeh by Tsodilo Resources (TSDRF)?

Mogegeh was granted 200,000 stock options at CDN $0.16 per common share, valid for five years.

What is the vesting schedule for Mogegeh's stock options in Tsodilo Resources (TSDRF)?

The options vest in four equal installments on February 10, 2025, August 10, 2025, February 10, 2026, and August 10, 2026.

What experience does Gape Mogegeh bring to Tsodilo Resources (TSDRF)?

Mogegeh brings over 20 years of experience in financial services, specifically in asset management, private equity, structured finance, and corporate finance, including managing commitments exceeding BWP 540 million in Botswana.

Which Tsodilo Resources subsidiary boards will Mogegeh join?

Mogegeh will join the boards of Newdico (Pty) , Gcwihaba Resources (Pty) , and Bosoto (Pty) , all Botswana subsidiaries of Tsodilo Resources.