VANCOUVER, Nov. 13 /CNW/ - Tanzanian Royalty Exploration Corporation
advises that Mr. James E. Sinclair has completed the third tranche of the
private placement announced on August 10, 2006 (the "Placement") whereby Mr.
Sinclair agreed to purchase common shares of the Corporation representing an
aggregate value of $3,000,000. Such shares are to be purchased in 8 quarterly
tranches of $375,000 each, commencing February 1, 2007.
The third tranche of the Placement closed on November 13, 2007 and
consisted of 63,993 common shares of the Corporation having a purchase price
of $5.86 per share for proceeds totaling $375,000. The purchase price reflects
the closing price of the Corporation's shares on October 31, 2007, which is
the greater of the closing price and weighted average trading price of the
Corporation's shares for the five consecutive trading days ended October 31,
2007 of $5.777.
All 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 the Placement. Each tranche is subject to
"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
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.
Certain information presented in this release may constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are based on
numerous assumptions, and involve known and unknown risks, uncertainties and
other factors, including risks inherent in mineral exploration and
development, which may cause the actual results, performance, or achievements
of the Company to be materially different from any projected future results,
performance, or achievements expressed or implied by such forward-looking
statements. Investors are referred to our description of the risk factors
affecting the Company, as contained in our Form 20-F, File No. 0-50634, for a
more information concerning these risks, uncertainties, and other factors.
For further information:
For further information: Investor Relations at 1-800-811-3855