Tanzanian Royalty Reports Annual Meeting Voting Results
March 22 2019 - 6:00PM
Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX)
(the "Company") announces the voting results from its 2019 annual
and special meeting held on March 21, 2019.
A total of 30,619,682 common shares were voted
representing 22.94% of the issued and outstanding common shares of
the Company. Shareholders voted in favour of all items of
business before the Meeting, as follows:
Item Voted Upon |
Result of Vote |
Ordinary resolution to set the number of directors for
the ensuing year at five. |
On a show of hands, shareholders approved the
resolution.Proxies: |
Votes For |
Votes Against |
30,398,048 (99.77%) |
69,199 (0.23%) |
Ordinary resolution to elect the following nominees as
Directors: |
On a show of hands, shareholders approved the
resolution.Proxies: |
James
E. Sinclair |
Votes For |
Votes
Withheld |
29,937,700 (98.26%) |
529,547 (1.74%) |
Norman Betts |
Votes For |
Votes Withheld |
26,977,073 (88.56%) |
3,486,074 (11.44%) |
William Harvey |
Votes For |
Votes Withheld |
29,792,688 (97.79%) |
674,559 (2.21%) |
Rosalind Morrow |
Votes For |
Votes Withheld |
27,276,784 (89.53%) |
3,190,463 (10.47%) |
Ulrich E. Rath |
Votes For |
Votes Withheld |
30,290,699 (99.42%) |
176,548 (0.58%) |
Ordinary resolution to approve the appointment of Dale
Matheson Carr-Hilton Labonte LLE, Chartered Accountants, as
auditors and authorize the directors to fix the remuneration of the
auditors. |
On a show of hands, shareholders approved the
resolution. Proxies: |
Votes For |
Votes Withheld |
30,381,700 (99.72%) |
85,547 (0.28%) |
Special resolution of the Corporation’s shareholders to
amend the Corporation’s Articles to change the name of the
Corporation to “Tanzanian Gold Corporation” or to such name as the
Board of Directors, in their sole discretion may resolve, the
Registrar of Corporations appointed under the Business Corporations
Act (Alberta) may permit and applicable stock exchanges may
approve; |
On a show of hands, shareholders approved the
resolution. |
Proxies: |
Votes For |
Votes Against |
30,052,704 (98.64%) |
414,543 (1.36%) |
For more information and updates, please see the
Company website at:www.tanzanianroyalty.com
Respectfully Submitted,
"James E. Sinclair"
James E. SinclairExecutive Chairman
Tanzanian Royalty Exploration
Corporation
For further information, please contact Investor
Relations:
m.martin@tanzanianroyalty.com860-248-0999
Cautionary Note Regarding
Forward-looking StatementsCertain 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 Positive Feasibility Study on Buckreef, the
timing and the results of the proposed drilling program.
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
Form 20-F Annual Report dated November 29, 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 security’s regulatory authorities in Canada and the
U.S.
Cautionary Note Regarding Mineral Reserves and
Mineral ResourcesThe terms "Mineral Reserve", "Proven Mineral
Reserve" and "Probable Mineral Reserve" used in this release are
Canadian mining terms as defined in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects
under the guidelines set out in the Canadian Institute of Mining,
Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources
and Mineral Reserves, adopted by the CIM Council on August 20, 2000
as may be amended from time to time by the CIM. These definitions
differ from the definitions in the United States Securities
Exchange Commission ("SEC") Guide 7. In the United States, a
mineral reserve is defined as a part of a mineral deposit which
could be economically and legally extracted or produced at the time
the mineral reserve determination is made.
The terms "Mineral Resource", "Measured Mineral
Resource", "Indicated Mineral Resource", "Inferred Mineral
Resource" used in this release are Canadian mining terms as defined
in accordance with National Instruction 43-101 – Standards of
Disclosure for Mineral Projects under the guidelines set out in the
CIM Standards. Mineral Resources which are not Mineral Reserves do
not have demonstrated economic viability.
For a detailed discussion of Buckreef resource
and reserve estimates and related matters see the Company's
reports, including the Form 20-F Annual Report dated November 29,
2018 and technical reports filed under the Company's name at our
website at: www.tanzanianroyalty.com.
Cautionary Note to US Investors Concerning
Estimates of Measured, Indicated and Inferred ResourcesNote to U.S.
Investors. While the terms "mineral resource", "measured mineral
resource," "indicated mineral resource", and "inferred mineral
resource" are recognized and required by Canadian regulations, they
are not defined terms under standards in the United States and
normally are not permitted to be used in reports and registration
statements filed with the SEC. As such, information contained in
this report concerning descriptions of mineralization and resources
under Canadian standards may not be comparable to similar
information made public by U.S companies in SEC filings. With
respect to "indicated mineral resource" and "inferred mineral
resource" there is a great amount of uncertainty as to their
existence and a great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an
"indicated mineral resource" or "inferred mineral resource" will
ever be upgraded to a higher category. Investors are cautioned not
to assume that any part or all mineral deposits in these categories
will ever be converted into reserves.
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