By Devika Patel
Knoxville, Tenn., Dec. 8 - TNR Gold Corp. said it has arranged a fully subscribed C$3 million non-brokered private placement of units.
The company will sell 10 million units of one share and one half-share warrant at C$0.30 per unit. The whole warrants are exercisable at C$0.40 each for two years.
Proceeds will be used to evaluate TNR's lithium, other rare metals and rare earth elements properties, to implement the proposed spin-off of International Lithium Corp. and for general corporate purposes.
TNR is a metals exploration company based in Vancouver, B.C.
| Issuer: | TNR Gold Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 8
|
| Stock symbol: | TSX Venture: TNR
|
| Stock price: | C$0.30 at close Dec. 7
|
| Market capitalization: | C$28.1 million
|
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