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Lithium Royalty Corp. (LIRC.TO) has announced its withdrawal from the proposed all-cash offer to acquire TNR Gold (TXSV: TNR).

Withdrawal of Proposed Transaction

On September 25, 2023, LIRC.TO proposed a non-binding offer to acquire TNR’s common shares for C$0.08 each. This represented a 45% premium to TNR’s unaffected closing share price on September 28, 2023. Despite repeated attempts to engage with TNR and its board, LIRC.TO has not received a response. Consequently, LIRC.TO is withdrawing its interest in TNR, despite believing the transaction was in TNR shareholders’ best interest.

About Lithium Royalty Corp.

LIRC.TO is a lithium-focused royalty company with a diversified portfolio of 33 revenue royalties on mineral properties worldwide. These properties supply and are expected to support the electrification of transportation and global economy decarbonization. LIRC.TO’s portfolio focuses on high-grade, low-cost mineral projects primarily in Australia, Canada, South America, and the United States. LIRC.TO is a signatory to the Principles for Responsible Investment, integrating ESG factors and sustainable mining into its investment analysis and royalty acquisitions.

Company Website: https://www.lithiumroyaltycorp.com

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