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TNR Gold Corp
Symbol TNR
Shares Issued 187,405,780
Close 2021-11-25 C$ 0.05
Recent Sedar Documents

TNR Gold arranges $250,000 private placement

2021-11-25 14:16 ET - News Release

Mr. Kirill Klip reports

TNR GOLD ANNOUNCES $250,000 NON-BROKERED PRIVATE PLACEMENT

TNR Gold Corp. is arranging a non-brokered private placement of up to five million units at a price of five cents per unit to raise up to $250,000. Each unit will consist of one common share of the company and one-half of a non-transferable common share purchase warrant. Each whole warrant will be exercisable into one common share in the capital of the company at an exercise price of 7.5 cents per share for two years from the date of issue.

The proceeds of the private placement will be used for exploration, maintenance of the Shotgun gold project and for general working capital purposes. All private placement securities will be restricted from trading for a period of four months plus one day from the date of closing.

Kirill Klip, executive chairman of the company and a non-arm's-length party, will participate in this private placement. The issuance of private placement securities to non-arm's-length parties constitutes related-party transactions under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). Because the company's shares trade only on the TSX Venture Exchange, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Section 5.7(b).

About TNR Gold Corp.

TNR Gold is working to become the green energy metals royalty and gold company.

Over the past 25 years, TNR, through its lead generator business model, has been successful in generating high-quality exploration projects around the globe. With the company's expertise, resources and industry network, it identified the potential of the Los Azules copper project in Argentina and now holds a 0.4-per-cent NSR (net smelter return) royalty on the project, which is being developed by McEwen Mining Inc. (TNR holds a 0.04-per-cent NSR on behalf of a shareholder).

In 2009, TNR founded International Lithium Corp. (ILC), a green energy metals company that was made public through the spinout of TNR's energy metals portfolio in 2011. ILC held interests in lithium projects in Argentina, Ireland and Canada.

TNR retains a 2-per-cent NSR royalty on the Mariana lithium project in Argentina with Ganfeng Lithium International Co. Ltd. (TNR holds a 0.2-per-cent NSR on behalf of a shareholder). Ganfeng's subsidiary, Litio Minera Argentina, has a right to repurchase 1.0 per cent of the NSR royalty on the Mariana project, of which 0.9 per cent relates to the company's NSR royalty interest. The company would receive $900,000 on the completion of the repurchase. The project is currently being advanced by Ganfeng Lithium International.

TNR provides significant exposure to gold through its 90-per-cent holding in the Shotgun gold porphyry project in Alaska. The project is located in southwestern Alaska near the Donlin gold project, which is being developed by Barrick Gold and Novagold Resources Inc.

The company's strategy with the Shotgun gold project is to attract a joint venture partnership with one of the gold major mining companies. The company is actively introducing the project to interested parties.

At its core, TNR provides significant exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun gold porphyry project) and Argentina (the Los Azules copper and the Mariana lithium projects) and is committed to the continued generation of in-demand projects, while diversifying its markets and building shareholder value.

We seek Safe Harbor.

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