TNR Gold Corp

Published : January 05th, 2016

TNR Gold Corp. Announces Restructure of Loan

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Keywords :   Argentina | Copper | Gold | Lead | Lithium |

TNR Gold Corp. Announces Restructure of Loan

VANCOUVER, BC / ACCESSWIRE / January 5, 2016 / TNR Gold Corp. (TNR.V) (the "Company" or "TNR) announces that it has significantly restructured its indebtedness to a private backer who advanced a $3.5 million loan to the Company in May 2012. Instead of repayment by December 31, 2015, the Company and the lender have agreed to extend the due date of the loan to December 31, 2018. The outstanding indebtedness of approximately $4.3 million will bear interest at the rate of 10% per annum, with interest payable at maturity. In consideration of the restructuring, which will allow the Company to pursue its business and seek strategic transactions for its mineral property assets, the lender will also receive a 10% direct or indirect interest in the following assets of the Company: (a) the Company's net smelter royalty (0.4%) in the Los Azules copper project in Argentina held through an NSR Royalty Agreement dated October 29, 2014 between Compañía Minera Solitario Argentina S.A. and Andes Corporacion Minera S.A.; (b) the Company's net smelter royalty (2.0%) in the Mariana Lithium project in Argentina held through an option agreement dated May 19, 2011 among TNR, Compañía Minera Solitario Argentina S.A., International Lithium Corp. and Litio Minera Argentina S.A.; and (c) the mineral claims comprising the Shotgun property in Alaska.

ABOUT TNR GOLD CORP. (www.tnrgoldcorp.com)

Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

TNR is also a major shareholder of International Lithium Corp. (TSX:ILC.V) ("ILC"), a company created by TNR to advance its internationally acquired lithium prospects. TNR currently holds about 23.3% of the outstanding shares of ILC.

At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina and is committed to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

For further details please see our website at http://www.tnrgoldcorp.com/s/NewsReleases.asp

On behalf of the board,

Gary Schellenberg
President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: TNR Gold Corp.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Argentina | All
Gold and Silver Prices for these countries : Argentina | All

TNR Gold Corp

EXPLORATION STAGE
CODE : TNR.V
ISIN : CA87262G1046
CUSIP : 87260X 109
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TNR is a gold development stage company based in Canada.

TNR holds various exploration projects in Argentina.

Its main exploration properties are MOOSE 2, FISH LAKE VALLEY, MUD LAKE BASIN, FORGAN LAKE, NIEMI LAKE, ILLIAMNA - BRISTOL and MAVIS LAKE in Canada, BLACKSTAIRS in Ireland and NORTHERN PROPERTIES, MARIANA (TNR), BATIDERO GOLD, LA CAROLINA, LAS CARACHAS, LA ORTIGA, EL TAPAU, EL SALTO ARGENTINA, EUREKA ARGENTINA, SHOTGUN and LOS AZULES ARGENTINA in Argentina.

TNR is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.0 millions as of today (US$ 4.8 millions, € 4.2 millions).

Its stock quote reached its highest recent level on June 15, 2001 at CA$ 0.85, and its lowest recent point on November 06, 2015 at CA$ 0.01.

TNR has 149 820 000 shares outstanding.

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Financings of TNR Gold Corp
4/18/2008Closes Brokered Private Placement of 9,500,000 Units
Nominations of TNR Gold Corp
10/2/2012. Appoints Greg Johnson To The Board
Project news of TNR Gold Corp
9/13/2012(Shotgun)Intersects 242 Metres of 1.25 g/t Gold on New Geophysical Ta...
7/18/2008(El Tapau)Commences 3,000 Metre Drill Program at El Tapau
6/3/2008(El Salto Argentina)Argentina Exploration Updates
4/18/2008(Los Azules Argentina) Minera Andes Drill 132M or 1.11% Copper at Los Azules
4/15/2008(La Carolina)LATIN AMERICA MINERALS EXERCISES OPTIONS TO ACQUIRE A 75% IN...
3/13/2008(Los Azules Argentina)PROJECT DRILL RESULTS
3/12/2008(Shotgun)REPORT ON ITS SHOTGUN PROJECT ON SEDAR/EUREKA PROJECT UPDATE
2/28/2008(El Salto Argentina)EL SALTO DRILL PROGRAM INCREASED FROM 3,000 METRES TO 10,500...
Corporate news of TNR Gold Corp
7/14/2016TNR Gold Holds 2016 Annual General Meeting
1/5/2016TNR Gold Corp. Announces Restructure of Loan
10/17/2014TNR Gold Corp. and McEwen Mining Inc. Agree to Convert TNR’s...
8/13/2014TNR Gold Corp. Comments on Recent News by McEwen Mining on t...
8/11/2014TNR Gold Acquires Critical Element REE Project in Labrador
6/13/2014TNR Gold Corp. Incentive Stock Options Granted
5/9/2014TNR Gold Holds 2014 Annual General Meeting /Overwhelming Sha...
3/27/2014TNR Gold, Cayden Resources and Garibaldi Resources Featured ...
2/5/2013Finalizes Los Azules Settlement with McEwen Mining
11/12/2012Los Azules Copper Property Lawsuit Against McEwen Mining Set...
11/12/2012Los Azules Copper Property Lawsuit Against McEwen Mining Set...
6/28/2011Advises of Minera Andes Drill Results and Development Update...
6/23/2011Notes Minera Andes Inc.-US Gold Corp. Merger Litigation Upda...
6/16/2011orate Update Post Lithium Spinoff
5/20/2011.: International Lithium Corp. Listing Date
5/12/2011.: International Lithium Corp. Spin-Out Record Date Set
4/8/2011. La Ortiguita Drill Program Expanded By 60%
3/1/2011.: Seabrook Ree Carbonatite Acquired; Sault Ste. Marie, Onta...
7/2/2008Commences Legal Action to confirm Escorpio IV Ownership
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TSX-V (TNR.V)Other OTC (TRRXF)
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