By Devika Patel
Knoxville, Tenn., May 6 - Tanzanian Royalty Exploration Corp. said it plans a C$1 million private placement of a three-year 3% convertible note with Van Tongeren Management LLC.
The note converts into 222,173 common shares at C$4.501 per share.
Proceeds will be used to purchase equipment and for general corporate expenses.
Tanzanian Royalty is a gold exploration company based in South Surrey, B.C.
| Issuer: | Tanzanian Royalty Exploration Corp.
|
| Issue: | Convertible note
|
| Amount: | C$1 million
|
| Coupon: | 3%
|
| Price: | Par
|
| Yield: | 3%
|
| Conversion price: | C$4.501
|
| Conversion ratio: | Into 222,173 shares
|
| Warrants: | No
|
| Investor: | Van Tongeren Management LLC
|
| Settlement date: | May 6
|
| Stock symbol: | Toronto: TNX
|
| Stock price: | C$5.05 at close May 6
|
| Market capitalization: | C$461 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
