Tanzanian Gold Announces the Sale of $2,993,390 of Common Shares and Warrants s.Tanzanian Gold Corporation’s (TSX: TNX) (NYSE American: TRX) (the “Company’s”) Board of Directors is pleased to announce the entering into subscription agreements for the sale of 5,545,325 common shares and warrants to purchase 2,772,637 common shares raising in $2,993,390 in the aggregate with certain investors. The common shares and warrants were sold at a fixed combination price of $0.5398 for each common share and a one-half purchase warrant with the right of each whole warrant to purchase one common share at $1.50 for a period of three years.
The proceeds from the sale of common shares and warrants will be used for capital expenditures, continued exploration, general corporate purposes and working capital.
