TNR Gold Announces Bridge Loan Financing
29 Novembre 2011 - 6:52PM
Marketwired
TNR Gold Corp. (the "Company") (TSX VENTURE:TNR) has arranged a
$1,000,000 bridge loan (the "Loan") from one of its current
shareholders (the "Lender") to provide short-term working capital.
The Loan is due and payable on or before November 30, 2012 and is
secured by a promissory note, general security agreement and deed
of trust over the Company's mining claims located in Alaska. The
Loan will bear interest at the rate of 8% per annum. In
consideration for the advance of the Loan, the Company will grant a
bonus of $50,000 to the Lender, payable by way of 1,000,000 common
shares of the Company at a deemed price of $0.05 per common share.
The bonus shares will be subject to a hold period of four months
and a day from issuance.
The Loan and issuance of the related bonus shares is subject to
the approval of the TSX Venture Exchange.
About TNR Gold Corp.
Over the past twenty-one years TNR, through its lead generator
business model, has been successful in generating high quality
exploration projects around the globe. With the Company's
expertise, resources and industry network, it is well positioned to
aggressively identify, source, explore, partner and continue to
expand its project portfolio.
TNR's recently listed subsidiary, International Lithium Corp.
(TSX VENTURE:ILC), demonstrated the successful application of TNR's
business model in which TNR shareholders benefited from a unit
distribution upon spin-out of TNR's lithium and rare metals
projects. TNR remains a large shareholder in ILC at 28% of
outstanding shares.
At its core, TNR provides significant exposure to gold and
copper through its holdings in Alaska and Argentina; and teamed
with the recent acquisitions of rare-earth elements and iron ore
projects in Canada confirm TNR's commitment to continued generation
of in-demand projects, while diversifying its markets and building
shareholder value.
On behalf of the board,
Gary Schellenberg, President
Statements in this press release other than purely historical
information, historical estimates should not be relied upon,
including statements relating to the Company's future plans and
objectives or expected results, are forward-looking statements.
News release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange
Act of 1934, as amended. Forward-looking statements are based on
numerous assumptions and are subject to all of the risks and
uncertainties inherent in the Company's business, including risks
inherent in resource exploration and development. As a result,
actual results may vary materially from those described in the
forward-looking statements.
CUSIP: #87260X 109
SEC 12g3-2(b): Exemption #82-4434
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: TNR Gold Corp. Gary Schellenberg President (604)
687-7551 or 1-800-667-4470 (604) 687-4670
(FAX)info@tnrgoldcorp.comwww.tnrgoldcorp.com
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