Re: News Releases - Tuesday, July 15, 2008
Title: Tanzanian Royalty Chairman To Provide
One Million Dollar Private Placement
Tanzanian
Royalty Exploration Corporation announces that Mr. James E. Sinclair has agreed
to provide $1,000,000 by way of a private placement with the proceeds being
applied to general working capital. Mr. Sinclair has agreed to purchase 184,843
common shares at a purchase price of $5.41 per share for proceeds totaling
$1,000,000. The price reflects the greater of the weighted average trading
price of the Company's shares for the five consecutive trading days ended July
14, 2008 of $5.101 and the closing price on July 14, 2008 of $5.41.
The placement common shares are subject to certain mandated hold periods and
the certificates representing such shares are legended accordingly. No
warrants, options or other rights have been issued or granted in connection
with these placements.
The private placement is subject to Regulatory approval.
Respectfully Submitted,
"James 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 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 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 a more information concerning these risks, uncertainties, and
other factors.
Copyright �
2008 TANZANIAN ROYALTY EXPLORATION CORPORATION (TNX) All rights reserved. For
more information visit our website at http://www.tanzanianroyaltyexploration.com/ or send email to info@tanzanianroyaltyexploration.com ..