(TNR.V) Feb. 11, 2019 – TNR Gold Corp. has received CDN$807,272.60, representing principal and interest due on up to the date of principal repayment on Feb. 7, which was due from International Lithium Corp. on a convertible debenture acquired by TNR on Nov. 24, 2017 with a maturity date of Jan. 31, 2019.
“I am very pleased that we have addressed another important issue for TNR’s 2019 business plan and we have considerably improved our working capital and strengthened the balance sheet,” said TNR executive chairman Kirill Klip. “The TNR team has the full and unconditional support of the company’s investment loan capital provider, which supports our business plan and long-term strategic initiatives.
“It’s clear that the decision of our investment loan capital provider earlier this year, to extend the due date of the investment loan by three years, is a resounding show of confidence in TNR’s long-term business strategy, asset portfolio and management team. We have the resources to concentrate our efforts on building a premier green energy metals royalty company by maximizing the value of our royalty portfolio of copper and lithium projects that are instrumental in the electric vehicle and green energy sectors, investigating new strategic acquisitions, and development of the Shotgun Gold project in Alaska.
“With increased working capital, it should be pointed out that we do not have to contribute any capital to our royalty holdings on the Los Azules copper project and on the Mariana lithium project in Argentina. The company’s strategy with the Shotgun gold project is to attract a joint venture partnership with one of the major gold mining companies given a project of this magnitude. TNR is actively introducing the project to interested parties. The essence of our business model is to have industry leaders like McEwen Mining and Ganfeng Lithium as operators on the projects that will potentially generate royalty cash flows to contribute and develop significant long-term value for our shareholders.”
Director John Davies added, “TNR Gold has carefully nurtured its asset model to coincide with the enormous growth of the electric vehicle and ‘green energy’ sector and now, with increased working capital, we can continue to build long-term shareholder value with existing projects while carefully analyzing business opportunities.”
TNR Gold is working to become a green energy metals royalty company. Over the past 23 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 identified the potential of the Los Azules copper project in Argentina and now holds a 0.36 percent net smelter returns royalty on the entire project, which is being developed by McEwen Mining Inc.
In 2009, TNR founded International Lithium Corp., a green energy metals company that was made public through the spin-out of TNR’s energy metals portfolio in 2011. ILC holds interests in lithium projects in Argentina, Ireland and Canada.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.