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Tanzanian Royalty Chairman Completes Fifth Tranche of C$3 Million Private Placement and C$1 Million Private Placement
Vancouver, Canada (ots/PRNewswire) -
Tanzanian Royalty Exploration Corporation confirms that the fifth tranche of the private placement by James E. Sinclair, Chairman and CEO, announced on May 2, 2006 and the $1,000,000 private placement by Mr. Sinclair, announced on May 3, 2006 have now closed.
Inclusive of the proceeds of the fifth tranche and the $1 million private placement, Mr. Sinclair's total share placements to date aggregate over C$10.2 million.
The private placement common shares are subject to certain mandated hold periods and resale restrictions 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.
"James E. Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer
Visit our website: www.TanzanianRoyaltyExploration.com
The Toronto Stock Exchange and American Stock Exchange 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 permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this news release, such as "measured", "indicated", and "inferred" "resources" that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 0-50634, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.
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ots Originaltext: Tanzanian Royalty Exploration Corporation
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For further information: Investor Relations at 1-800-811-3855; Visit
our website: www.TanzanianRoyaltyExploration.com;