VANCOUVER, Feb. 19 /CNW/ - Tanzanian Royalty Exploration Corporation
advises that, including this $1 million private placement and interest free
advances to the Company to be applied towards the aggregate $3 million private
placement (the "Placements"), the Company's Chairman and CEO, Mr. James E.
Sinclair's total share placements to date aggregate in excess of $17 million.
Mr. Sinclair completed the $1 million private placement announced
February 5, 2008 and the $375,000 fourth tranche of the aggregate $3 million
private placement first announced on August 10, 2006.
The Placements closed on February 19, 2008 and consisted of
167,196 common shares of the Corporation having a purchase price of $5.981 for
proceeds totaling $1,000,000 and 61,871 common shares of the Corporation
having a purchase price of $6.061 per share for proceeds totaling $375,000.
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:
For further information: please contact Investor Relations at 1 (800)
811-3855, Visit our website: www.TanzanianRoyaltyExploration.com