Re: News Release - Tuesday, November 13, 2007
Title: Tanzanian Royalty Chairman Completes
Third Tranche of C$3 Million Private Placement
Tanzanian Royalty Exploration Corporation advises that
Mr. James E. Sinclair has completed the third tranche of the private placement
announced on August 10, 2006 (the "Placement") whereby Mr. Sinclair
agreed to purchase common shares of the Corporation representing an aggregate
value of $3,000,000. Such shares are to be purchased in 8 quarterly tranches of
$375,000 each, commencing February 1, 2007.
The third tranche of the Placement closed on November 13, 2007 and consisted of
63,993 common shares of the Corporation having a purchase price of $5.86 per
share for proceeds totaling $375,000. The purchase price reflects the closing
price of the Corporation's shares on October 31, 2007, which is the greater of
the closing price and weighted average trading price of the Corporation's
shares for the five consecutive trading days ended October 31, 2007 of $5.777.
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. Each tranche is subject to regulatory
approval.
Respectfully Submitted,
"James E. 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 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.
Copyright �
2007 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
..