Tanzanian Royalty Exploration Corporation advises it has entered into Subscription Agreements for aggregate $15,000,000 million private placements with arm’s length institutional investors. The private placements will consist of an aggregate 2,553,627 common shares at a price of $5.874 per share, representing the five-day weighted average trading price of the common shares on the Toronto Stock Exchange for the period ended November 5, 2010 less a 15% discount, and an aggregate 638,407 common share purchase warrants exercisable at a price of $7.05 per share. In addition, the Company will pay a finder’s fee payable in 212,802 common shares at the subscription price of $5.874 per share to arm’s length third parties. The private placements are subject to regulatory approval.

The funds will be used for general corporate purposes including the purchase of two 100 tonnes per hour modular-type gravity plants for the Company's Lunguya Gravels Project in the Lake Victoria Greenstone Belt.

Tanzanian Royalty is a financial gold company with advanced and early stage gold and base metal exploration projects in The United Republic of Tanzania. Among the Company's key partners in Tanzania is Jinchuan Group, the largest producer of nickel and cobalt in China.

Respectfully submitted,

“James E. Sinclair”James E. SinclairChairman and Chief Executive Officer

For further information, please contact Investor Relations at 1-800-811-3855.

Visit our website: www.TanzanianRoyaltyExploration.com

The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as “reserves”, “resources”, “geologic resources”, “proven”, “probable”, "measured", "indicated", or "inferred" which may not be consistent with the reserve definitions established by the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 001-32500. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml.

Certain information presented in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Investors are referred to our description of the risk factors affecting the Company, as contained in our Form 20-F, File No. 001-32500, for more information concerning these risks, uncertainties, and other factors.

Tan Range Exploratio (AMEX:TRE)
Gráfica de Acción Histórica
De May 2024 a Jun 2024 Haga Click aquí para más Gráficas Tan Range Exploratio.
Tan Range Exploratio (AMEX:TRE)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024 Haga Click aquí para más Gráficas Tan Range Exploratio.