THE COMPANY IS PLEASED TO ANNOUCE IT IS
PROCEEDING WITH A DEFINITIVE AGREEMENT TO CLOSE THE
TRANSACTION.
VANCOUVER, Aug. 18, 2014 /CNW/
- TANZANIA MINERALS CORP. (the "Company" or "TZM") (TSX-V:
TZM.V) (FRANKFURT: TMO.F) is pleased to announce that it has
completed its due diligence with Twigg Gold Ltd. ("Twigg") on the
Igurubi and Msasa gold projects in Tanzania and plans to proceed with completing
the definitive agreement on the transaction.
The Company also announces that further to its news releases of
April 24, 2014 and July 25, 2014, pursuant to which the Company
entered into a letter of intent to acquire Twigg's 75% interest in
the Igurubi Project and Twigg's 90% interest in the Msasa Project
for consideration of US $350,000 and
7 million common shares upon closing of the transaction, all
parties have agreed to extend the closing date of the transaction
by 30 days to September 20, 2014.
Robert Dzisiak, President &
CEO of Tanzania Minerals Corp. said, "We are pleased to have
completed the due diligence on the acquisition of the Igurubi and
Msasa projects and look forward to closing the transaction by
September 20, 2014. We have
confirmed our belief that these projects are highly prospective and
will significantly enhance TZM's current extensive exploration
portfolio within Tanzania."
Tanzania Minerals Corp. is an emerging junior exploration
Company trading on the TSX Venture Exchange. The company has
an extensive portfolio of projects in Tanzania. Additional
information on Tanzania Minerals Corp. is available on SEDAR at
www.sedar.com, on the Company's website at www.tanzaniaco.com, or
by contacting info@tanzaniaminerals.com.
On behalf of the Board of Directors of Tanzania Minerals
Corp.
"Robert Dzisiak"
Robert Dzisiak, President &
CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Statements included in this announcement, including statements
concerning our plans, intentions and expectations, which are not
historical in nature are intended to be, and are hereby identified
as, "forward looking statements". Forward looking statements may be
identified by words including "anticipates", "believes", "intends",
"estimates", "expects" and similar expressions. The Company
cautions readers that forward looking statements, including without
limitation those relating to the Company's future operations and
business prospects are subject to certain risks and uncertainties
that could cause actual results to differ materially from those
indicated in the forward looking statements.
SOURCE Tanzania Minerals Corp