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TORONTO, ONTARIO--(Marketwired - Oct. 28, 2016) - Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the "Company") announces that it has renewed certain secured loan agreements for an aggregate of US$1,530,000 for an additional one year term. Under the terms of the agreements, interest may be converted into common shares of the Company at a price of US$0.27658 per share. Accordingly, a total of up to an additional 442,548 common shares (the "Shares") may be issued in payment of any interest due under the renewal term of the agreements. The Company received approval from the NYSE MKT to the issuance of the Shares on October 19, 2016. As an Eligible Interlisted Issuer, the Company is relying upon the exemption provided for pursuant to Section 602.1 of the TSX Company Manual whereby the Company has notified the TSX that the transaction meets the standards of NYSE MKT in order to obtain TSX acceptance. |
