By Laura Lutz
Des Moines, May 16 - TNR Gold Corp. closed a private placement of units for C$2.9 million.
The company sold 14.5 million units of one share and one half-share transferable warrant at C$0.20 per unit. Each whole warrant will be exercisable for two years, at C$0.30 in the first year and at C$0.50 in the second year.
Pacific International Securities Inc. was the agent.
Proceeds will be used for exploration and general corporate purposes.
TNR is a metals exploration company based in Vancouver, B.C.
| Issuer: | TNR Gold Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2.9 million
|
| Units: | 14.5 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30 in the first year; C$0.50 in the second year
|
| Agent: | Pacific International Securities Inc.
|
| Settlement date: | May 16
|
| Stock symbol: | TSX Venture: TNR
|
| Stock price: | C$0.225 at close May 15
|
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