TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) said it has closed the second and final tranche of the non-brokered private placement of up to 5,000,000 units announced on December 22, 2021.
On closing, the company issued 420,000 units at $0.05 per unit for proceeds of $21,000.
Each unit consists of one common share of the company and one-half of a non-transferable common share purchase warrant, with each whole warrant exercisable into one common share of the company at an exercise price of $0.075 per share for two years from the date of issue.
Proceeds of the private placement will be used for exploration, maintenance of the Shotgun Gold project and for general working capital purposes.
READ: TNR Gold closes first tranche of non-brokered private placement for proceeds of $120,000
Kirill Klip, TNR Gold's executive chairman, and Maurice Brookes, the chief financial officer of the company, both non-arms' length parties, participated in this 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 is working to become the green energy metals royalty and gold company. Over the past 26 years, through its lead generator business model, the company has been successful in generating high-quality exploration projects around the globe.
At its core, TNR provides significant exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun Gold porphyry project) and Argentina (the Los Azules Copper and the Mariana Lithium projects) and is committed to the continued generation of in-demand projects, while diversifying its markets and building shareholder value.
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