Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Tanzanian Royalty Exploration Corp       CA87600U1049

TANZANIAN ROYALTY EXPLORATION CORP

SummaryChartsNewsCalendarCompany 
News SummaryMost relevantAll newsOfficial PublicationsSector news

Tanzanian Royalty Announces the Sale of Common Shares of $885,734

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/12/2019 | 09:20pm EDT

TORONTO, Jan. 12, 2019 (GLOBE NEWSWIRE) -- Tanzanian Royalty Exploration Corporation's (TSX:TNX) (NYSE MKT:TRX) (the "Company’s”) Board of Directors is pleased to announce the entering into subscription agreements for the sale of 3,924,386 common shares raising $885,734 in the aggregate with two investors.

The proceeds from the sale of common shares will be used in furtherance of the Company’s Three-Phase Drill Program at the Buckreef Project previously announced.

The common shares are being offered pursuant to an effective shelf registration statement on Form F-3, that was previously filed with the Securities and Exchange Commission and declared effective on September 5, 2018. The sale of the common shares is expected to close on or before on January 16, 2019, subject to the satisfaction of customary closing conditions, including acceptance of the listing of the common shares by the NYSE American and the Toronto Stock Exchange.

Respectfully Submitted,

"James E. Sinclair"

James E. Sinclair
Executive Chairman

For further information, please contact Michael Martin, Investor Relations, m.martin@tanzaninaroyalty.com, 860-248-0999, or visit the Company website at www.tanzanianroyalty.com  

Cautionary Note Regarding Forward-looking Statements
Certain of the statements made herein may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, but not always, forward- looking statements and forward-looking information can be identified using words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, ,occur or be achieved. Forward-looking statements or information herein include, but are not limited to the Positive Feasibility Study on Buckreef, the timing and the results of the proposed drilling program.

Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information and even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or  information  will  prove   to   be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the following: gold price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; currency fluctuations; speculative nature of gold exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements; and defective title to mineral claims or property, as well as those factors discussed in the sections entitled "Forward-Looking Statements" and "Risk Factors" in the Company's Form 20-F Annual Report dated November 29, 2018.

There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward- looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada and the U.S.

Cautionary Note Regarding Mineral Reserves and Mineral Resources
The terms "Mineral Reserve", "Proven Mineral Reserve" and "Probable Mineral Reserve" used in this release are Canadian mining terms as defined in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council on August 20, 2000 as may be amended from time to time by the CIM. These definitions differ from the definitions in the United States Securities Exchange Commission ("SEC") Guide 7. In the United States, a mineral reserve is defined as a part of a mineral deposit which could be economically and legally extracted or produced at the time the mineral reserve determination is made.

The terms "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource", "Inferred Mineral Resource" used in this release are Canadian mining terms as defined in accordance with National Instruction 43-101 – Standards of Disclosure for Mineral Projects under the guidelines set out in the CIM Standards. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

For a detailed discussion of Buckreef resource and reserve estimates and related matters see the Company's reports, including the Form 20-F Annual Report dated November 29, 2018 and technical reports filed under the Company's name at our website at: www.TanzanianRoyaltyExploration.com.

Cautionary Note to US Investors Concerning Estimates of Measured, Indicated and Inferred Resources
Note to U.S. Investors. While the terms "mineral resource", "measured mineral resource," "indicated mineral resource", and "inferred mineral resource" are recognized and required by Canadian regulations, they are not defined terms under standards in the United States and normally are not permitted to be used in reports and registration statements filed with the SEC. As such, information contained in this report concerning descriptions of mineralization and resources under Canadian standards may not be comparable to similar information made public by U.S companies in SEC filings. With respect to "indicated mineral resource" and "inferred mineral resource" there is a great amount of uncertainty as to their existence and a great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category. Investors are cautioned not to assume that any part or all mineral deposits in these categories will ever be converted into reserves.

CONNECTICUT OFFICE:         
PO Box 577   
Sherman, CT     
U.S.A.   06784                   
Fax: (860) 799-0350
investors@TanzanianRoyalty.com

TORONTO OFFICE:
82 Richmond Street West
Suite 208
Toronto, Ontario M5C 1P1
Toll Free (844) 364-1830
www.TanzanianRoyaltyExploration.com

Tanzanian Royalty Logo.png


© GlobeNewswire 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TANZANIAN ROYALTY EXPLORAT
06/10TANZANIAN GOLD : Announces Further Results
AQ
06/06Tanzanian Gold Announces Further Results From Drilling Below Pit Bottom Highl..
GL
06/04TANZANIAN GOLD : Announces End of Phase I In-Pit Drilling Program
AQ
06/03TANZANIAN GOLD : Announces End of Phase I In-Pit Drilling Program.
PU
05/31TANZANIAN GOLD : Announces End of Phase I In-Pit Drilling Program
AQ
05/30Tanzanian Gold Announces End of Phase I In-Pit Drilling Program
GL
05/04TANZANIAN GOLD : Announces US ATM Offering of Up to US$3.0 Million
AQ
05/03Tanzanian Gold Announces Closing of the Sale of $1,530,700 in Common Shares
GL
05/03Tanzanian Gold Announces US ATM Offering of Up to US$3.0 Million
GL
05/01Tanzanian Gold Announces Drill Results From Below the Open Pit at Buckreef in..
GL
More news
Chart TANZANIAN ROYALTY EXPLORATION CORP
Duration : Period :
Tanzanian Royalty Exploration Corp Technical Analysis Chart | MarketScreener
Full-screen chart
Managers
NameTitle
Jeffrey R. Duval Chief Executive Officer
James E. Sinclair Executive Chairman & President
Marco Guidi Chief Financial Officer & Secretary
Ulrich E. Rath Independent Director
William M. Harvey Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TANZANIAN ROYALTY EXPLORATION CORP137.50%95
NEWMONT MINING CORPORATION3.69%27 564
BARRICK GOLD CORP3.20%23 020
NEWCREST MINING LIMITED37.25%15 041
POLYUS PAO--.--%10 722
AGNICO EAGLE MINES LTD14.59%10 657