8% loan negotiated to finance company's short-term working capital
By Devika Patel
Knoxville, Tenn., Nov. 29 - TNR Gold Corp. announced it has secured a C$1 million bridge loan.
The loan is due Nov. 30, 2012 and has an 8% coupon. In consideration for the loan, the lender received 1 million common shares at a deemed price of C$0.05 per share, which is a 16.67% discount to the Nov. 28 closing share price of C$0.06.
Proceeds will provide short-term working capital.
TNR is a gold exploration company based in Vancouver, B.C.
| Issuer: | TNR Gold Corp.
|
| Issue: | Bridge loan, 1 million common shares
|
| Amount: | C$1 million
|
| Maturity: | Nov. 30, 2012
|
| Coupon: | 8%
|
| Warrants: | No
|
| Settlement date: | Nov. 29
|
| Stock symbol: | TSX Venture: TNR
|
| Stock price: | C$0.06 at close Nov. 28
|
| Market capitalization: | C$8.8 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
