Tembo Capital Mining Fund LP Extends Term of Convertible Loan to DuSolo Fertilizers Inc.

ST. PETER PORT, GUERNSEY--(Marketwired - Dec. 13, 2016) - Tembo Capital Mining Fund LP ("Tembo") announces that it has entered into an amended and restated loan agreement with DuSolo Fertilizers Inc. ("DuSolo") to extend the term of the $750,000 convertible loan originally made to Dusolo in September 2015.

Pursuant to the amended and restated loan agreement, accrued interest and the original establishment fee have been capitalized and added to the principal amount of the loan (bringing it to $876,267), the maturity date of the loan has been extended to December 7, 2017, and the conversion price has been reduced. Tembo may, at any time, convert the loan into units of DuSolo at a price of $0.05 per unit, with each unit being comprised of one common share of DuSolo and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.065 per share for a period of 36 months from the date of issuance.

Tembo currently holds 90,563,519 common shares of DuSolo, representing approximately 37.40% of the issued and outstanding common shares, and also holds warrants to purchase an additional 3,982,500 common shares. Pursuant to the amended and restated loan agreement, and assuming full conversion of the loan, Tembo would be entitled to receive 17,525,340 common shares and 8,762,670 common share purchase warrants. Assuming conversion in full of the loan and the exercise of all warrants then held by Tembo, Tembo would hold approximately 44.36% of DuSolo's common shares on a partially diluted basis.

The entering into of the amended and restated loan agreements was made for investment purposes. Tembo will continue to review its investment holdings over time and may, depending on market and other conditions, increase or decrease its beneficial ownership of DuSolo's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

For additional information, or to obtain a copy of the report required pursuant to the early warning reporting requirements, please contact:

Paul Siveyer
Telephone: +44 207 917 2805
Email: psiveyer@tembocapital.com

Tembo Capital Mining Fund LP
Cambridge House
Le Truchot, St Peter Port
Guernsey GYl 1WD