TNR Gold Corp (CVE:TNR) announced a new financing to fund exploration at its Shotgun Gold project in Alaska.
The Vancouver-based royalty and gold company said it will offer up to 3,125,000 units priced at $0.08 per unit for gross proceeds of up to C$250,000.
Each unit consists of one share and one-half of one warrant, with each whole warrant exercisable at $0.12 for a two-year period from the date of issue.
READ: TNR Gold’s Shotgun project in Alaska has all the trappings and trimmings it takes to attract in a major
Executive chairman Kirill Klip will participate in the offering, according to a statement.
The private placement replaces a $250,000 offering announced in February 2021, which TNR Gold has withdrawn, it told investors.
TNR Gold holds net smelter return (NSR) royalties on projects containing copper, gold, silver and lithium metals. Its project portfolio is diverse both commodity-wise and geographically.
TNR owns 90% of the Shotgun project and is looking to partner with a major gold miner. Located around 190 kilometres south of the Donlin Gold deposit, Shotgun is a porphyry-style gold mineralized system that is being targeted for a bulk mineable gold resource.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas