By Devika Patel
Knoxville, Tenn., July 6 - TNR Gold Corp. said it plans to conduct a C$1 million private placement of units.
The company will sell 5 million units of one common share and one half-share warrant at C$0.20 apiece to Canada Zinc Metals Corp. Each whole transferable warrant will be exercisable at C$0.30 for one year.
Proceeds will be used to evaluate TNR's lithium and rare metal properties, implement the proposed spinoff 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 common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Investor: | Canada Zinc Metals Corp.
|
| Pricing date: | July 6
|
| Stock symbol: | TSX Venture: TNR
|
| Stock price: | C$0.19 at close July 6
|
| Market capitalization: | C$14.7 million
|
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