Tanzania Minerals Corp. - Warrant Extension and Re-Pricing

VANCOUVER, Nov. 12, 2013 /CNW/ - Tanzania Minerals Corp. (TSXV: TZM) (the "Company") announces that subject to regulatory approval, the Company intends to extend the expiry date of 8,182,000 share purchase warrants expiring December 7, 2013 (the "Warrants"), for two additional years to December 7, 2015 and to amend the exercise price of these warrants to be 0.35 per share from $0.75.

The Warrants were originally issued to subscribers pursuant to a private placement which closed on December 7, 2010.  The Warrants originally provided for each Warrant to be exercisable into a common share of the Company at a price of $0.75 for a period of two years.  Since then, the expiry date of these warrants was extended once to December 7, 2013.

Pursuant to the policies of the TSX Venture Exchange, in the event that the closing price of the Company's listed shares exceeds $0.47 for 10 consecutive trading days, the exercise period will be reduced to 37 days.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

On behalf of the Board of Directors of Tanzania Minerals Corp.

"Kal Matharu"
Kal Matharu, President & CEO

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements unless otherwise required by the applicable law.

SOURCE: Tanzania Minerals Corp

For further information:

For further information contact one of the following at Tanzania Minerals Corp:

Kal Matharu
President & CEO
Tel:  (204) 942-3191
Fax:  (204) 944-0513
www.tanzaniaco.com

Ryan Walchuck
Vice President Business Development
Tel:  (604) 569-0866
Fax:  (604) 683-2484
www.tanzaniaco.com

Organization Profile

Tanzania Minerals Corp

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890