VANCOUVER, June 22 /CNW/ - Tanzanian Royalty announces that Mr. James E.
Sinclair, Chairman and CEO, will make an interest free advance to the
Corporation of $1,500,000, having advanced today $1,100,000, and a further
$400,000 to follow by June 29, 2007. As previously announced, Mr. Sinclair has
agreed to purchase common shares of the Corporation representing an aggregate
value of $3,000,000. Such shares are to be purchased in eight quarterly
tranches of $375,000 each, the first tranche of which completed on May 28,
2007. Including this $1,500,000 advance, Mr. Sinclair's interest free advances
to the Corporation total $3,117,000 which is to be applied towards the
aggregate $3,000,000 private placement and an interest free loan in the amount
Each tranche is subject to regulatory approval.
"James E. Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer
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:
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