TNR Gold Corp (TSX-V:TNR, FRA:TNW, OTC:TRRXF) announced that it has completed a strategic private placement investment by Altius Resources, raising approximately C$4.2 million in gross proceeds.
The company issued 23.5 million common shares to Altius Resources, a wholly owned subsidiary of Altius Minerals Corporation, for gross proceeds of C$4.17 million
TNR Gold executive chairman Kirill Klip wrote that the investment supports the company’s strategic development plans and reflects market recognition of its asset portfolio. “Our business model provides a unique entry point into the creation of supply chains for critical materials like energy metals, which are powering the Energy rEVolution, and the gold industry that is providing the ultimate hedge during this part of the economic cycle,” Klip said. Klip also highlighted TNR’s exposure to projects tied to copper, lithium and gold, including royalty interests associated with the Los Azules copper project and the Mariana lithium project in Argentina. Altius added that the investment aligns with its strategy of acquiring minority equity positions in companies with royalty exposure to mineral resource projects.
The company pointed to TNR’s royalty portfolio, which includes interests tied to copper and lithium assets, including Los Azules and Mariana, where Altius also holds a direct royalty interest. Alongside the financing, the companies entered into two ancillary agreements. Under a right of first offer agreement, TNR granted Altius Royalty Corporation the first opportunity to negotiate any potential sale of TNR’s 1.35% net smelter return (NSR) royalty on the Mariana Lithium Project and its 0.36% NSR royalty on the Los Azules Copper Project.