Tanzanian Royalty Completes Private Placement
Tanzanian Royalty Exploration Corporationannounces it has
completed a $4,049,110 arm′s length private placement. The private
placement consisted of 690,150 common shares at a price of $5.867 per
share, representing the five-day weighted average trading price of the
common shares on the Toronto Stock Exchange for the period ended
December 21, 2010 less a 15% discount, and 172,538 common share purchase
warrants exercisable at a price of $6.903 per share. The Company has
paid a finder′s fee payable in 58,663 common shares at the subscription
price of $5.867 per share.
The funds will be used for general corporate purposes including
exploration and development of the Company′s mineral assets in the
United Republic of Tanzania.
Respectfully Submitted,
'James E. Sinclair?
James E. Sinclair
Chairman and Chief Executive Officer
For further information, please contact Investor Relations at
1-800-811-3855
Visit our website: www.TanzanianRoyaltyExploration.com
The Toronto Stock Exchange and NYSE Amex Equities have not reviewed and
do not accept responsibility for the adequacy or accuracy of this release
Cautionary Note to U.S. Investors - The United States Securities and
Exchange Commission limits disclosure for U.S. reporting purposes to
mineral deposits that a company can economically and legally extract or
produce. We use certain terms on this news release, such as 'reserves?,
'resources?, 'geologic resources?, 'proven?, 'probable?, 'measured',
'indicated', or 'inferred' which may not be consistent with the reserve
definitions established by the SEC.U.S. Investors are urged to
consider closely the disclosure in our Form 20-F, File No. 001-32500.You can review and obtain copies of these filings 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. 001-32500, for more information concerning these
risks, uncertainties, and other factors.
Tanzanian Royalty Exploration Corporation
Connecticut Office:
Tel:
(860) 364-1830
Fax: (860) 364-0673
or
South Surrey
Office:
Toll Free: 1-800-811-3855
Tel: (604) 536-7873
Fax:
(604) 536-2529
investors@TanzanianRoyaltyExploration.com
www.TanzanianRoyaltyExploration.com