Tanzanian Gold Corporation Announces Public Offering of Common Shares
4844-0547-2926.3
CONNECTICUT OFFICE: TORONTO OFFICE:
PO Box 577 Bay Adelaide Centre, East Tower
U.S.A. 06784 22 Adelaide Street West, Suite 3400
Sherman, CT Toronto, Ontario M5H 4E3 Canada
U.S.A. 06784 Toll Free (844) 364-1830
[email protected] www.Tangoldcorp.com
Tanzanian Gold Corporation Announces Public Offering of Common Shares
For Immediate Release August 9, 2019
TORONTO, August 9, 2019 (GLOBE NEWSWIRE) - Tanzanian Gold Corporation, (TSX:TNX) (NYSE
American:TRX) (the “Company”) announced today that it has commenced an underwritten public
offering of up to 4,000,000 Common Shares at $0.75 per share. R.F. Lafferty Co., Inc. is acting as
underwriter to offer and sell the Common Shares on a “best efforts” basis. The Company intends to use
the net proceeds from the offering in furtherance of a deep underground geophysical survey and the
continuation and completion of Phase II drilling at the Buckreef Project. Importantly, proceeds will also
be used for the further construction of the resource-geology model and overall gold resource assessment
at the Buckreef Project. Finally, and to a significantly lesser extent, proceeds will be used for working
capital and other general corporate expenses.
The offering will be made pursuant to the Company's existing effective shelf registration statement,
previously filed with the Securities and Exchange Commission. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these
securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or other jurisdiction.
The offering of these Common Shares will be made only by means of a prospectus and related prospectus
supplement. Copies of the prospectus and prospectus supplement relating to the Common Shares may be
obtained by contacting: R.F. Lafferty & Co., Inc., Attention: Guy Crawford, Email:
[email protected]; Telephone: (212) 293-9052.
Respectfully Submitted,
"James E. Sinclair"
James E. Sinclair
Executive Chairman
For further information, please contact Michael Martin, Investor Relations, [email protected],
860-248-0999, or visit the Company website at www.tanzanianroyalty.com
4844-0547-2926.3
Cautionary Note Regarding Forward-looking Statements
Certain of the statements made herein may contain forward-looking statements or information within the
meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws. Often, but not always, forward-looking statements and forward-looking information can
be identified using words such as “plans”, “ expects”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations
of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”,
“might” or “will” be taken, occur or be achieved. Forward-looking statements or information herein
include, but are not limited to, that the Company will be able to close on the common shares to be sold
pursuant to the underwritten public offering and that the Company will achieve positive results from the
geophysical survey and Phase II drilling at the Buckreef Project.
Forward-looking statements and forward-looking information by their nature are based on assumptions
and involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking statements or information.
We have made certain assumptions about the forward-looking statements and information and even
though our management believes that the assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance that the forward-looking statement
or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or
other factors materialize, or should underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements or information. These risks, uncertainties
and other factors include, among others, the following: gold price volatility; discrepancies between
actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining
operational and development risk; litigation risks; regulatory restrictions, including environmental
regulatory restrictions and liability; risks of sovereign investment; currency fluctuations; speculative
nature of gold exploration; global economic climate; dilution; share price volatility; competition; loss of
key employees; additional funding requirements; and defective title to mineral claims or property, as well
as those factors discussed in the sections entitled “Forward-Looking Statements” and “Risk Factors” in
the Company’s Form 20-F Annual Report for the year ended August 31, 2018 and filed with the SEC on
November 29, 2018.
There can be no assurance that forward-looking statements or information will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements.
Accordingly, you should not place undue reliance on the forward-looking statements or information
contained herein. Except as required by law, we do not expect to update forward-looking statements and
information continually as conditions change and you are referred to the full discussion of the Company’s
business contained in the Company’s reports filed with the securities regulatory authorities in Canada
and the U.S.