TNR Gold Closes a $4.2 Million Private Placement to Altius Resources
TNR Gold (TNR.V) on Monday said it closed a $4.2 million private placement of shares to Altius Resources (ALS.TO).TNR issued 23.5-million shares to Altius and granted it a right of first offer on the sale of TNR's 1.35% net smelter return royalty on the Mariana Lithium Project and 0.36% NSR on the Los Azules Copper Project, both in Argentina. Altius also has the right to participate in future private placements to maintain its pro rata ownership stake in TNR.Proceeds will be used for working capital purposes, including exploration on TNR's Shotgun Gold Project in Alaska, a statement said."Our shareholders are participating in the building of The Green Energy Metals Royalty and Gold Company. In our portfolio, we have a unique combination of assets providing exposure to different parts of the mining cycle, starting with the power of blue-sky discovery, and including partnerships with industry leaders like McEwen Inc., Ganfeng Lithium, Lundin Mining and BHP as operators on the projects that could potentially generate royalty cashflows to contribute value for our shareholders," said executive chair Kirill Klip.TNR shares were last seen down $0.005 to $0.25 on the TSX Venture Exchange.Price: $0.25, Change: $-0.01, Percent Change: -1.96%