Orezone Gold Corporation press release
Tanzanian Royalty Chairman Completes Eighth Tranche of C$3 Million Private Placement and Advances C$1,117,000
TSX - Toronto Stock Exchange · Gold · Silver · Canada
Trade Symbol:
TSX: TNX
AMEX: TRE
VANCOUVER, Feb. 13 /CNW/ - Tanzanian Royalty Exploration Corporation confirms that the eighth tranche of the private placement (the "Placement") by James E. Sinclair, the Company's Chairman and CEO, announced on February 1, 2007 closed on February 13, 2007. The eighth tranche consists of 56,467 common shares of the Corporation having a purchase price of $6.641 per share for proceeds totaling $375,000.
Inclusive of the proceeds of the eighth tranche, and an interest free advance of $1,117,000 to be applied towards the new $3 million private placement announced August 10, 2006, Mr. Sinclair's total share placements to date aggregate in excess of $12.4 million.
The new private placement and each of the quarterly tranches will be subject to regulatory and stock exchange approval.
All private placement common shares are subject to certain mandated hold periods and resale restrictions and the certificates representing such shares are legended accordingly. No warrants, options or other rights have been issued or granted in connection with the Placement.
Respectfully Submitted,
"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
release.
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.