5th tranche ... 3 more to go .. What a guy... still putting his money where his mouth is.
Past tranches have supported new bases .. JS has never lost money on any of the tranches he has bought and this will be no different.
Tanzanian Royalty to raise $375,000 in fifth tranche
2006-05-02 13:16 ET - News Release
Shares issued 86,048,504
TNX Close 2006-05-01 C$ 9.45
Mr. James Sinclair reports
TANZANIAN ROYALTY CHAIRMAN PROCEEDS WITH FIFTH TRANCHE OF C$3 MILLION PRIVATE PLACEMENT
Tanzanian Royalty Exploration Corp. has learned that James E. Sinclair is proceeding with the fifth tranche of the private placement announced in Stockwatch Jan. 13, 2005, whereby Mr. Sinclair agreed to purchase common shares of the corporation representing a total value of $3-million. Such shares are to be purchased in eight quarterly tranches of $375,000 each, commencing Feb. 1, 2005.
The fifth tranche will consist of 40,783 common shares of the corporation having a purchase price of $9.195 per share for proceeds totalling $375,000. The purchase price reflects the weighted average trading price of the corporation's shares for the five consecutive trading days of the fifth tranche quarterly period ended April 30, 2006.
The private placement common shares are subject to certain mandated hold periods and resale restrictions and the certificates representing such shares are legended accordingly. No warrants, options or other rights have been issued or granted in connection with this placement.
Each tranche is subject to regulatory approval.
We seek Safe Harbor.