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Wednesday, December 23, 2009
TNR Gold Corp. Closes 10,000,000 Units Private Placement TNR.v, CZX.v, MAI.to, NG.to, NGQ.to, ABX, WLC.v, LI.v, RM.v, CLQ.v, AVL.to, CCE.v, QUC.v, F
Posted by andre at 2:35 PM
Inflation is a function of printing press, credit expansion. Higher prices will come as a result of created money chasing the same amount of goods. Here is our Gold and Silver play as a store of value.
If these liquidity flood will find its ways into one tiny, but very important sector with Trend starting factors in place we will have our Elvis moment there. It will be pockets of Growth and magic word here is "Low Base". Growth from this place is Explosive by definition. We call it Next Big Thing - Bull market, when "Cool Factor" is multiplied by "Big If".
Tiny sector is Lithium and REE, Trend is Electric Cars and "Low Base" - there is no mass market for them yet, but they are ready and going into production (picture gallery Cool Electric Cars). We will throw few words and couple of figures to get you started..."
Finally this junior has a capital to match its Green Energy ambitions. Overnight TNR Gold became cash rich Gold-Copper-Lithium-REE play with a strong balance sheet - time is to work its magic on developing the properties. Now institutions and funds will be able to invest in this company once financial statements will reflect this capital infusion. "Project rich, but cash poor" status will be a distant memory from now on. And insiders are buying more ... we can not come with any negative explanation for this. Consolidation stage will be over very soon with ILC preparing for spin out to provide a Focused Lithium Exploration and development investment opportunity.
Please do not take anything as an investment advise here as usual.
TNR Gold Corp. Closes 10,000,000 Units Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2009) - TNR Gold Corp. (TSX VENTURE:TNR - News; "TNR" or the "Company") and wholly-owned International Lithium Corp. ("ILC") are pleased to announce TNR has closed its non-brokered private placement previously announced on December 8, 2009, which has resulted in gross proceeds to the Company of $3,000,000 (the "Offering").
The offering consisted of the issuance of 10,000,000 units of the Company (the "Units") at a price of $0.30 per unit for gross proceeds of $3,000,000. 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 December 17, 2009. There are no finder's fees payable for the placement.
All securities issued pursuant to this Offering are subject to a 4-month hold period from December 17, 2009.
TNR's Non-Executive chairman Mr. Kirill Klip has subscribed for 5,000,000 units with the remaining 5,000,000 units subscribed for by a strategic energy sector investor.
Proceeds of the Offering 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.
ABOUT TNR GOLD CORP./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, other 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.
On behalf of the board,
Gary Schellenberg, President
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