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Bullboard - Stock Discussion Forum TRX Gold Ord Shs TRX


Primary Symbol: T.TRX

TRX Gold Corporation is a Canada-based company, which is advancing the Buckreef Gold Project. The Company is engaged in the exploration, development and production of mineral property interests in the United Republic of Tanzania. The Buckreef Project's prospects include Buckreef, Bingwa, Tembo, Anfield, Eastern Porphyry and Buziba. The Buckreef Project encompasses three main mineralized zones... see more

TSX:TRX - Post Discussion

TRX Gold Ord Shs > TNX Announces Closing of US$21.4M placement
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Post by hallidas1 on Feb 12, 2021 4:14am

TNX Announces Closing of US$21.4M placement

Let's hope the decent runup continues now that the actual production plant upgrade has now been approved and is fully funded!  Would be nice to get some deep drill updates as well as I'm sure there must be a few results in hand.


https://stockhouse.com/news/press-releases/2021/02/11/tanzanian-gold-corporation-announces-closing-of-us-21-4-million-registered

Tanzanian Gold Corporation Announces Closing of US$21.4 Million Registered Direct Offering

T.TNX

TORONTO, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Tanzanian Gold Corporation (TSX:TNX) (NYSE American:TRX) (TanGold, TRX or the Company), today announced that it has successfully closed the previously announced registered direct offering of 32,923,078 shares of its common stock at a purchase price of US$0.65 per share. The Company also issued to the investors warrants to purchase up to an aggregate of 16,461,539 shares of common stock in a concurrent private placement. The common stock warrants will be exercisable six months after the date of issuance, have an exercise price of US$0.80 per share and will expire five years from the date of issuance.

A.G.P./Alliance Global Partners acted as sole placement agent for the offering.

Net proceeds from the offering were approximately USD$19.8 million and the Company intends to use the net proceeds from the offering for continued development of the Buckreef Gold Project, including capital expenditures, continued exploration, general corporate purposes and working capital.
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