Tanzanian Royalty Announces Shelf Registration Statement Declared Effective
September 10 2018 - 9:50AM
Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX)
(the "Company') is pleased to announce that its shelf registration
statement on Form F-3 was declared effective by the Securities and
Exchange Commission (SEC). The company plans to utilize
this shelf registration to conduct additional infill drilling as
recommended by our engineers on page 29 of the recently released
amended 43-101. This gold drilling program seeks to upgrade listed
inferred resources into higher categories of indicated or measured,
this material once upgraded can be included in our totals for the
open pit in the future definitive feasibility
study. This gold drilling program will also include
additional testing and delineation of the mineralization below the
bottom of the open pit which is currently open in all directions.
This deep underground potential available on the Buckreef project
can be viewed in cross section in the amended 43-101 page number
105. The drill program comprised of the infill drilling as well as
continued definition and testing at depth of the underground
potential are accretive in nature and will solidly position the
company to begin work on the definitive feasibility study. This
shelf registration statement will allow the Company to raise up to
US$15 million through the sale of securities, which may consist of
common shares or warrants, or a combination thereof, in one or more
offerings in the future. Specific terms and prices of
any offering will be determined at the time of such offering and
included in a prospectus supplement to be filed with the SEC. While
the company has put this shelf registration in place it has no
obligation or requirement to use it and will continue to seek the
best funding options available.
James E. SinclairExecutive Chairman
For further information, please contact Michael Martin, Investor
Relations at 1-860-249-0999.
Cautionary Note Regarding Forward-looking
Statements Certain of the statements made herein may
contain forward-looking statements or information within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and applicable Canadian securities laws. Often, but not
always, forward-looking statements and forward-looking information
can be identified using words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negatives thereof or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking statements
or information herein include, but are not limited to the
Pre-Feasibility Study on Buckreef.
Forward-looking statements and forward-looking information by
their nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. We have made certain assumptions
about the forward-looking statements and information and even
though our management believes that the assumptions made and the
expectations represented by such statements or information are
reasonable, there can be no assurance that the forward-looking
statement or information will prove to be accurate.
Furthermore, should one or more of the risks, uncertainties or
other factors materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described
in forward-looking statements or information. These risks,
uncertainties and other factors include, among others, the
following: gold price volatility; discrepancies between
actual and estimated production, mineral reserves and resources and
metallurgical recoveries; mining operational and development risk;
litigation risks; regulatory restrictions, including environmental
regulatory restrictions and liability; risks of sovereign
investment; currency fluctuations; speculative nature of gold
exploration; global economic climate; dilution; share price
volatility; competition; loss of key employees; additional funding
requirements; and defective title to mineral claims or property, as
well as those factors discussed in the sections entitled
"Forward-Looking Statements" and "Risk Factors" in the Company’s
Annual Information Form, Form 20-F dated March 16, 2018.
There can be no assurance that forward-looking statements or
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, you should not place undue reliance
on the forward-looking statements or information contained
herein. Except as required by law, we do not expect to update
forward-looking statements and information continually as
conditions change and you are referred to the full discussion
of the Company's business contained in the Company's reports filed
with the securities regulatory authorities in Canada and the
U.S.
CONNECTICUT OFFICE: PO Box 577Sherman,
CTU.S.A. 06784 Fax: (860)
799-0350investors@TanzanianRoyalty.com
TORONTO OFFICE:82 Richmond Street EastSuite 208Toronto, Ontario
M5C 1P1Toll Free (844)
364-1830www.TanzanianRoyaltyExploration.com
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