Overview of Tombola Gold's recent activities

Tombola Gold Ltd (ASX: $TBA) provides an overview of its activities for the period ending 31 December 2023. The company, currently under administration and receivership, has executed a Deed of Company Arrangement (DOCA) with Goodsail Holdings Pty Ltd. The DOCA involves the appointment of administrators responsible for the administration of the DOCA, and the company will remain in suspension through this process. Shareholders are expected to receive further correspondence to recapitalize Tombola Gold's share structure in the future.

Executive commentary on the recent developments

The company's recent activities have been primarily focused on the execution of the Deed of Company Arrangement with Goodsail Holdings Pty Ltd. This arrangement involves the appointment of administrators responsible for the administration of the DOCA. Shareholders are advised to expect further communication regarding the recapitalization of the company's share structure. It's important to note that due to the administration of Tombola Gold, the value of its shares is currently nil until Goodsail repositions the company. The company and the Deed Administrators cannot provide assurances at this stage regarding the future value of the company's shares.

Summary of Tombola Gold's current situation and outlook

Tombola Gold Ltd (ASX: $TBA) has been under administration and receivership, leading to the execution of a Deed of Company Arrangement with Goodsail Holdings Pty Ltd. The company will remain in suspension through this process, and shareholders can expect further communication regarding the recapitalization of the company's share structure. However, it's important to note that the value of the company's shares is currently nil until Goodsail repositions the company. The company and the Deed Administrators cannot provide assurances at this stage regarding the future value of the company's shares. As the company works through the administration and receivership, it aims to address its financial situation and reposition itself for potential future growth and development.