Tanzanian Royalty Exploration Corp chairman to proceed with seventh tranche of private placement
Mon. January 05, 2009; Posted: 04:33 AM
Jan 05, 2009 (M2 EQUITYBITES via COMTEX) --
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PowerRating -- Tanzanian Royalty Exploration Corp (Toronto:TNX.TO) (AMEX:TRE), engaged
in the acquisition and exploration of natural resource properties,
declared on 2 January that the company's chairman James E. Sinclair
will undertake the seventh tranche of a private placement of shares for
an aggregate value of CAD3m.
Pursuant to the private placement, Sinclair will acquire such shares in
eight quarterly tranches of CAD375,000 each, beginning 1 February 2007.
According to the company, the seventh tranche of the placement will
consist of 69,832 common shares of the corporation at a purchase price
of CAD5.37 per share to raise proceeds of CAD375,000.
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