Orezone Gold Corporation press release
Tanzanian Royalty chairman completes C$2 million private placement
TSX - Toronto Stock Exchange · Gold · Silver · Canada
Trade Symbol:
TSX: TNX
AMEX: TRE
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 capital.
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.
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.
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.