Tanzanian Royalty Chairman to Provide $800,000 Private Placement
Tanzanian Royalty Exploration Corporation announces that Mr. James E.
Sinclair has agreed to provide $800,000 by way of private placement with
the proceeds being applied to general working capital. Mr. Sinclair has
agreed to purchase 144,430 common shares at price of $5.539 per share.
The price reflects the 5-day weighted average trading price on the
Toronto Stock Exchange for the period August 17-23, 2010.
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 this placement.
The private placement is subject to regulatory approval.
Respectfully submitted,
'James E. 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 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.
Tanzanian Royalty Exploration Corporation
Connecticut Office:
Tel:
(860) 364-1830
Fax: (860) 364-0673
or
South Surrey Office:
Toll
Free: 1-800-811-3855
Tel: (604) 536-7873
Fax: (604) 536-2529
Email:
investors@TanzanianRoyaltyExploration.com
Website:
www.TanzanianRoyaltyExploration.com