TNR Gold Announces Fully Subscribed $3 Million Private Placement

Vancouver B.C.: TNR Gold Corp. (“TNR” or the “Company”) and wholly-owned International Lithium Corp. (“ILC”) are pleased to announce a fully subscribed non-brokered private placement in TNR for 10,000,000 ( ten million) units (the “Units”), priced at $0.30 per Unit, to raise $3,000,000 (the “Offering”). Each Unit consists of one common share and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.40 for a period of twenty four months from the date of closing. There are no finders fees payable for the placement.

TNR’s Non-Executive Chairman, Mr. Kirill Klip, will be taking 5,000,000 units of the private placement and will concurrently sell 5,000,000 shares privately in order to bring key energy sector strategic investors into the Company. Mr. Klip has filed a notice of distribution to disclose the sale of 5,000,000 shares privately. The remaining 5,000,000 units of the private placement will go to one subscriber.

TNR President and Executive Chairman, Gary Schellenberg states, “We are encouraged by the continuing support received from Mr. Klip and welcome new strategic investors in TNR and International Lithium Corp. It is clear that our strategic focus on Lithium, other Rare Metals and Rare Earth Elements properties around the world has attracted energy sector investors who are building a portfolio of green energy assets including TNR and wholly-owned International Lithium Corp”.

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 the evaluation of TNR’s Lithium, other Rare Metals and Rare Earth Elements properties, implement the proposed spin-off of International Lithium Corp. and for general corporate purposes.

Further to the Company’s news release dated September 22, 2009, TNR will not be proceeding with the brokered private placement.

ABOUT TNR GOLD / INTERNATIONAL LITHIUM CORP

TNR is a diversified metals exploration company focused on exploring existing properties and identifying new prospective projects globally. TNR has a total portfolio of 33 properties, of which 16 will be included in the proposed spin-off of International Lithium Corp.

It is anticipated that TNR shareholders of record will receive up to one share and one full tradable warrant of International Lithium Corp. for every 4 shares of TNR held as of the yet determined record date. This will result in TNR shareholders owning shares in both TNR and International Lithium. For further details of the spin-off please refer to TNR’s April 27, 2009 news release or visit http://www.internationallithium.com

The recent acquisition of lithium, rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the company’s commitment to generating projects , diversifying its markets, and building shareholder value.

TNR Gold Corp.
On behalf of the board,

“Gary Schellenberg”

Gary Schellenberg
Chairman and CEO

The TSX Venture Exchange does not nor does its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. 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.

2016-12-01T04:13:24+00:00 December 8th, 2009|2009 News|