Mr. James Sinclair reports
TANZANIAN ROYALTY ANNOUNCES THE SALE OF COMMON SHARES OF $281,000
Tanzanian Royalty Exploration Corp. is entering into subscription agreements for the sale of 625,557 common shares at 44.92 cents per share raising $281,000 in the aggregate with three 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, which was previously filed with the Securities and Exchange Commission and declared effective on Sept. 5, 2018. The sale of the common shares is expected to close on or before on March 1, 2019, subject to the satisfaction of customary closing conditions, including acceptance of the listing of the common shares by the New York Stock Exchange and the Toronto Stock Exchange.
We seek Safe Harbor.
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