TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) has announced a non-brokered private placement to raise up to C$250,000 by issuing up to five million company units at a price of C$0.05 per unit.
TNR said the proceeds from the offering will be used for exploration and maintenance of its Shotgun Gold project and for general working capital purposes.
Each unit will consist of one company common share plus one half of a non-transferable common share purchase warrant, with each whole warrant being exercisable into one TNR Gold common share at an exercise price of C$0.075 per share for two years from the date of issue.
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The company noted the offering will replace the C$250,000 private placement announced on November 25, 2021, which TNR Gold has withdrawn.
TNR Gold executive chairman Kirill Klip will participate in the private placement.
All private placement securities will be restricted from trading for a period of four months plus one day from the date of closing.
TNR Gold provides significant exposure to gold, copper, silver and lithium through its holdings in Alaska and Argentina, which includes interest in the Mariana lithium project and the Los Azules copper-gold-silver project in addition to the Batidero I and II properties.
Contact Sean at sean@proactiveinvestors.com