Business
TNR Gold Provides Update of Activities
Vancouver, British Columbia--(Newsfile Corp. - August 28, 2017) - TNR Gold Corp. (TSXV: TNR...
About this update from Tnr Gold Corp.
[{"type":"text","content":"TNR Gold Provides Update of ActivitiesVancouver, British Columbia--(Newsfile Corp. - August 28, 2017) - TNR Gold Corp. (TSXV: TNR) (\"TNR\" or the \"Company\") is pleased to announce an update of activities and vision for the coming months.Last year, we began taking measures to improve our balance sheet and maintain TNR's portfolio of assets. Senior management and directors accepted a 40% cut of debt owed to them from the Company and a more than a 50% reduction in management fees. Certain debts to former management were settled with TNR's shareholdings in International Lithium Corp., issued at $0.20 cents per share, higher than the market price at the time of issue. In order to conserve cash and prevent shareholder dilution at the currently undervalued share price, management and directors have agreed to forego their fees until there is improvement in the market performance and financial condition of the Company. In particular, management is focused on preserving the Company's assets while carefully managing the Company's liquidity and disposing the absolute minimum of any of our liquid assets. Management and the Board's belief is that an era of \"Energy rEVolution\" has begun, and the electrification of transportation coupled with a global push for carbon-neutral energy supplies will lead to a demand for energy metals like lithium and copper. Our company is well positioned to participate in this market trend and with that, TNR is working towards becoming a green energy metals royalty company.TNR now has a talented dedicated team to build our portfolio of assets in order to capitalize on the current investment trends. Increasing electrification of transportation and the energy sectors are expected to boost the demand for critical commodities and energy metals. Our assets allow us to participate in these opportunities and build the Company for the benefit of all stakeholders.Los Azules Copper Project RoyaltyTNR, through its lead generator business model, has been successful in generating high quality exploration projects in the Americas and Europe. Utilizing management's expertise, the Company resources and industry network, TNR identified the project portfolio of International Lithium Corp. and identified the potential of the Los Azules copper project in Argentina at an early stage of exploration. TNR now holds a 0.36% NSR royal...