Tanzanian Gold Announces the Sale of $2,993,390 of Common Shares and Warrants

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.

Full Press Release here

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