Mr. James Sinclair reports
TANZANIAN GOLD ANNOUNCES CLOSING OF SALE OF $3,000,000 IN COMMON SHARES
Tanzanian Gold Corp. has completed the sale of four million common shares, raising $3-million in the aggregate as previously announced in its news release of Aug. 9, 2019.
Tanzanian is extremely pleased to have worked with R.F. Lafferty to complete this important financing. The proceeds from this sale of common shares will allow the company to continue apace with extremely comprehensive development plan designed for the Buckreef project. This development has systematically been built through a progression of infill drilling within the company's planned open-pit mine design, drilling of the previously untested area just below the designed pit and now preliminary planning for much deeper drilling. In addition to the drill program, the company has added a downhole geophysical survey to complement and expand its knowledge of the controlling structures found at Buckreef. All of the data collected will be entered into the company's new resource-geologic model. The entire program has been conducted in a manner not usually employed by junior mining companies. This professional approach will continue.
The company is gratified to have a strong, continued relationship with R.F. Lafferty, which clearly understands the company and its long-term goals. R.F. Lafferty has completed this transaction with professionalism and expedience, entirely with clients of its own, and the company expects the firm to help build a broad interest in the growth of Tanzanian.
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