TNR Gold TNR.v is definitely up to something if big boys are putting their money at 0.4CAD. Last PP was at 0.2CAD level and was well oversubscribe, within this year company has changed a lot. New shareholder base includes Prudent Bear fund. Insiders are holding over 23% of shares and were constantly buying. Its recent drilling at El Salto attracted attention from industry letter writers and Bob Moriarty has put a piece on his website 321gold.com after his visit to Argentina. This 4 million will help them move things forward, addition of drills will be nice to see. TNR will be presented at PDAC in Toronto with drill core on display, it must be impressive...
TNR Gold Announces $4 Million Private PlacementVANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2008) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES.
TNR Gold Corp. (TSX VENTURE:TNR)(PINK SHEETS:TRRXF)("TNR" or the "Company") is pleased to announce a brokered private placement led by PI Financial Corp. (the "Agent") for up to 10,000,000 units (the "Units"), priced at $0.40 per Unit to raise up to $4,000,000 (the "Offering"). Each Unit consists of one common share and one-half of one transferable common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.60 for a period of eighteen months from the date of closing. The Company has granted the Agent an over-allotment option for up to 2,000,000 additional Units.
As consideration for acting as agent, the Agent will receive a commission of 7% of the gross proceeds raised, payable in cash, in units or a combination of both, at the election of the Agent. Any units issued in lieu of cash commission will be on the same terms as the Units of the Offering. In addition, the Agent will be paid compensation options equal to 9% of the number of Units issued pursuant to the Offering. Each compensation option will entitle the Agent to purchase, at an exercise price of $0.50, one common share of the Company for a period of eighteen months from the date of closing.
All securities issued pursuant to this financing are subject to a 4-month hold period from the date of closing. The Offering is subject to TSX Venture Exchange approval and any regulatory approvals.
Proceeds of the private placement will be used to fund TNR's exploration projects in North and South America, and for general corporate purposes.
About TNR Gold Corp.
TNR Gold Corp is a base and precious metals exploration company focused on aggressively identifying new prospective projects as well as fostering work on its large portfolio of 16 properties in Argentina and Alaska. The company's focus over the next 12 months is the exploration and development of its Eureka, El Salto and El Tapau properties in Argentina and Shotgun project in Alaska.
On behalf of the board,
Paul Chung, Director
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES.
TNR Gold Corp. (TSX VENTURE:TNR)(PINK SHEETS:TRRXF)("TNR" or the "Company") is pleased to announce a brokered private placement led by PI Financial Corp. (the "Agent") for up to 10,000,000 units (the "Units"), priced at $0.40 per Unit to raise up to $4,000,000 (the "Offering"). Each Unit consists of one common share and one-half of one transferable common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.60 for a period of eighteen months from the date of closing. The Company has granted the Agent an over-allotment option for up to 2,000,000 additional Units.
As consideration for acting as agent, the Agent will receive a commission of 7% of the gross proceeds raised, payable in cash, in units or a combination of both, at the election of the Agent. Any units issued in lieu of cash commission will be on the same terms as the Units of the Offering. In addition, the Agent will be paid compensation options equal to 9% of the number of Units issued pursuant to the Offering. Each compensation option will entitle the Agent to purchase, at an exercise price of $0.50, one common share of the Company for a period of eighteen months from the date of closing.
All securities issued pursuant to this financing are subject to a 4-month hold period from the date of closing. The Offering is subject to TSX Venture Exchange approval and any regulatory approvals.
Proceeds of the private placement will be used to fund TNR's exploration projects in North and South America, and for general corporate purposes.
About TNR Gold Corp.
TNR Gold Corp is a base and precious metals exploration company focused on aggressively identifying new prospective projects as well as fostering work on its large portfolio of 16 properties in Argentina and Alaska. The company's focus over the next 12 months is the exploration and development of its Eureka, El Salto and El Tapau properties in Argentina and Shotgun project in Alaska.
On behalf of the board,
Paul Chung, Director
No comments:
Post a Comment