Tanzanian Royalty Chairman to Provide $1 Million Private Placement and Agrees to Reprice 8th Tranche of $3 Million Private Place
23 Febbraio 2009 - 9:33PM
Marketwired
Tanzanian Royalty Exploration Corporation (TSX: TNX) (AMEX: TRE)
announces that Mr. James E. Sinclair has agreed to provide
$1,000,000 by way of a private placement with the proceeds being
applied to general working capital. Mr. Sinclair has agreed to
purchase 189,036 common shares at a purchase price of $5.29 per
share for proceeds totaling $1,000,000. The price reflects the
greater of the closing price on the Toronto Stock Exchange of the
Company's shares on February 20, 2009 of $5.29 and the 5-day
weighted average trading price for the five consecutive trading
days ended February 20, 2009 of $5.131. If the closing price on the
Toronto Stock Exchange of the Company's shares on the date of
closing is greater than the above, the share price and number of
shares to be issued will be adjusted to reflect the higher price.
In addition, Tanzanian Royalty advises that Mr. James E.
Sinclair has agreed to reprice the eighth tranche of the $3 million
private placement. Since the announcement of Mr. Sinclair's
intention to proceed with the eighth tranche, Tanzanian Royalty's
share price has increased meaningfully. Tanzanian Royalty and Mr.
Sinclair have agreed to reprice the eighth tranche to reflect the
current share price. The eighth tranche will consist of 71,977
common shares of the Corporation having a purchase price of $5.21
per share for proceeds totaling $375,000. The purchase price
reflects the closing price of the Corporation's shares on the
Toronto Stock Exchange on February 19, 2009. The eighth tranche
private placement has now closed. Mr. Sinclair has now completed
all tranches of this $3,000,000 private placement commitment. His
total share placements to date aggregate $21,064,000.
The private placement common shares are subject to certain
mandated hold periods and the certificates representing such shares
are legended accordingly. No warrants, options or other rights have
been issued or granted in connection with these placements.
The private placement is subject to Regulatory approval.
Respectfully Submitted,
"James Sinclair"
James E. Sinclair
Chairman 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 Alternext US LLP 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 a more information
concerning these risks, uncertainties, and other factors.
Distributed by Filing Services Canada and retransmitted by
Marketwire
Contact: Investor Relations 1-800-811-3855
www.TanzanianRoyaltyExploration.com
Grafico Azioni TRX Gold (TSX:TNX)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni TRX Gold (TSX:TNX)
Storico
Da Set 2023 a Set 2024