Tanzanian Gold Corporation is pleased to announce that it has closed a flexible financing agreement for up to US$14 million with RiverFort Global Capital Ltd. (“RiverFort”) and [Yorkville Advisors] (the “Financing”).
The Financing will be structured in multiple tranches (i) US$7.0 million will be advanced between close and the filing of a registration statement with the Securities Exchange Commission (“SEC”), and (ii) US$7.0 million will be advanced over time at the company’s election upon reaching certain milestones.
The proceeds of the Financing will be utilized for a significant expansion of the Buckreef Project oxide mining and processing operation, general corporate purposes, the advancement of a Feasibility Study for the larger sulphide mining complex, and the continuation of multiple drilling programs.
PRESS & MEDIA
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