TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) announced that it is arranging a non-brokered private placement to raise up to C$250,000 by issuing as many as five million company units at a price of $0.05 each.
TNR said the proceeds of the offering will be used for exploration, maintenance of the Shotgun Gold project, and general working capital purposes.
Each unit will consist of one TNR Gold common share plus one half of a non-transferable common share purchase warrant, with each whole warrant being exercisable into one company common share at an exercise price of C$0.075 per share for two years from the date of issue.
READ: TNR Gold closes final tranche of non-brokered private placement for proceeds of $21,000
The company noted that its 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 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.
Contact Sean at sean@proactiveinvestors.com