Company sells 690,150 shares at C$5.867 apiece, an 8.33% discount
By Devika Patel
Knoxville, Tenn., Feb. 1 - Tanzanian Royalty Exploration Corp. said it settled a private placement of shares. The offering raised C$4.05 million.
The company sold 690,150 common shares at C$5.867 apiece. The price per share is an 8.33% discount to C$6.40, the closing share price on Jan. 31, and is also equal to the five-day weighted average trading price of the shares for the period ending Dec. 21, minus a 15% discount.
Investors also received 172,538 warrants, which are each exercisable at C$6.903, a 7.86% premium to the Jan. 31 closing price.
Proceeds will be used for general corporate purposes.
Tanzanian Royalty is a gold exploration company based in South Surrey, B.C.
| Issuer: | Tanzanian Royalty Exploration Corp.
|
| Issue: | Common shares
|
| Amount: | C$4,049,110
|
| Shares: | 690,150
|
| Price: | C$5.867
|
| Warrants: | 172,538
|
| Warrant strike price: | C$6.903
|
| Settlement date: | Feb. 1
|
| Stock symbol: | Toronto: TNX
|
| Stock price: | C$6.40 at close Jan. 31
|
| Market capitalization: | C$607.76 million
|
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