A special thanksgiving gift and message from the Magical Magoo, after the markets close for the holiday:
SOUTH SURREY, British Columbia--(BUSINESS WIRE)-- Tanzanian Royalty Exploration Corporation (TSX:TNX.TO - News)(NYSE Amex:TRX) has agreed to amend the exercise price and term of warrants previously issued pursuant to its August 12, 2011 prospectus financing under which it raised USD$30,000,000 in an offering of 5,263,158 units consisting of one common share and one common share purchase warrant.
James E. Sinclair, President and CEO of Tanzanian Royalty, describes the warrant adjustment as a “tangible way of showing our appreciation to a loyal and supportive shareholder who has stood shoulder-to-shoulder with us during a period of volatile market conditions.”
The exercise price of the 5,263,158 common share purchase warrants has been reduced from USD$6.25 to USD$4.00, and the term of the warrants has been extended one year to expire August 12, 2014. In addition, if the weighted average trading price of the common shares increases to USD$6.50 after March 11, 2012, the company will be entitled to require that the holders exercise the warrants, failing which the warrants will terminate. The 368,421 compensation warrants issued under the prospectus financing have been amended in the same manner and re-priced from USD$5.91 to USD$4.00. All of the warrants are held by arm’s length investors. The amendments become effective on December 7, 2011.
you just can't make this stuff up anymore. my god. huge investor is now jockeying to get THREE YEARS on a $4 WARRANT HAHAHAHAHAHAHAHAAH. what a complete and total piece of garbage this company, if you can even call it that, has become...i wish i were short! my expectation or shorting again higher than $3 does not look like it could happen for QUITE A WHILE!