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Lithium Royalty Corp. (LIRC.TO) has made an unsolicited non-binding offer to TNR Gold Corp. (TSXV: TNR). The offer is to acquire all issued and outstanding common shares of TNR Gold at $0.08 per share.
Offer Considered Inadequate
TNR Gold’s Board views the offer as opportunistic and financially inadequate. They believe it does not serve the best interests of TNR or its shareholders. Kirill Klip, CEO of TNR, states that the current share price of TNR undervalues the company.
Engaging with Other Parties
TNR is engaging with multiple parties proposing higher potential valuations for their assets than the current LRC proposal. The Board aims to maximize the potential value of their assets and the company’s valuation for all shareholders.
TNR is committed to maximizing shareholder value and increasing TNR’s share price. Despite LRC’s assertions, TNR has been engaged with LRC since January 2022 and has had many discussions about possible transactions.
About TNR Gold Corp.
TNR Gold Corp. aims to become the green energy metals royalty and gold company. Their portfolio provides a unique combination of assets with exposure to multiple aspects of the mining cycle. TNR holds a 1.5% NSR Royalty on the Mariana Lithium Project in Argentina and a 0.4% NSR Royalty on the Los Azules Copper Project.
Company Website: https://www.lithiumroyaltycorp.com
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