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TNR GOLD ANNOUNCES FULLY SUBSCRIBED $3 MILLION PRIVATE PLACEMENT
TNR GOLD ANNOUNCES FULLY SUBSCRIBED $3 MILLION PRIVATE PLACEMENT
About this update from Tnr Gold Corp.
[{"type":"text","content":"\nTNR GOLD ANNOUNCES FULLY SUBSCRIBED $3 MILLION PRIVATE PLACEMENT\n\n\n Dec. 8, 2009 (TheNewswire.ca) -- Vancouver B.C.: TNR Gold (TSXV:TNR) 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 (NYSE:KEG) 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 CORPTNR is a diversified metals exploration company focused on exploring existing properties and identifying new prospective pro...