VANCOUVER, Oct. 26 /CNW/ - Tanzanian Royalty Exploration Corporation
confirms that the private placement by Mr. James Sinclair, Chairman and CEO,
announced October 11, 2007 closed on October 26, 2007. The private placement
consists of 347,222 commons shares at a purchase price of $5.76 per share for
proceeds totaling $2 million. Proceeds will be applied to general working
Including this $2 million private placement, and interest free advances
to the Company of over $3 million to be applied towards the previously
announced aggregate $3 million private placement, Mr. Sinclair's total share
placements to date aggregate in excess of $16 million.
The private placements are 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:
For further information: Investor Relations at 1-800-811-3855; Visit our