VANCOUVER, March 30, 2015 /CNW/ - Tanzania Minerals Corp. (the "Company" or "TZM") (TSX-V: TZM.V) (FRANKFURT: TM0.F) is pleased to announce that the TSX Venture Exchange has accepted for expedited filing, documentation of an Asset Purchase Agreement dated October 21, 2014 between between Tanzania Minerals Corp. (the "Company") and Twigg Gold Limited (the "Vendor".)
Acquisition of Gold Assets
The Company is pleased to confirm that the TSX Venture Exchange has accepted the agreement for expedited filing whereby the Company may acquire a 75% interest in the Igurubi project and 90% interest in the Msasa project located in Tanzania (collectively, the "Properties"). The consideration payable to the Vendor consists of U.S. $350,000.00 cash and 7,000,000 common shares of the Company.
The Company continues to work with Twigg Gold Ltd. to bring the closing conditions of the transaction to completion and bring the transaction to a close. The Company will provide additional updates in a timely matter.
For further information please refer to the Company's news release dated October 21, 2014.
About Tanzania Minerals Corp.
Tanzania Minerals Corp. is an emerging junior exploration company trading on the TSX Venture Exchange. The Company has an extensive portfolio of projects in Tanzania. Additional information on Tanzania Minerals Corp., including technical reports and other public documents are available on SEDAR at www.sedar.com or on the Company's website at www.tanzaniaco.com.
Additional information on Tanzania Minerals Corp., including technical reports and other public documents is available on SEDAR at www.sedar.com or on the Company's website at www.tanzaniaco.com.
On behalf of the Board of Directors of Tanzania Minerals Corp.
James Walchuck, Chairperson
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward looking statements". Forward looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward looking statements, including without limitation those relating to the Company's future operations and business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward looking statements.
SOURCE Tanzania Minerals Corp
For further information: Tanzania Minerals Corp., Kal Matharu, Tel: (204) 421-1999, Fax: (604) 669-3877, www.tanzaniaco.com