TNR Gold Corp. Reports Results of 2018 Annual General Meeting
Vancouver, November 27, 2018 - TNR Gold Corp. (TSXV: TNR) (“TNR” or the “Company”) is pleased to announce that all resolutions proposed at the Company’s annual general and special meeting of shareholders (“AGM”) held on November 26, 2018 were passed. All agenda items outlined in the information circular for the meeting were approved and all directors standing for election were reelected. The directors elected for the ensuing year were Kirill Klip, John Davies, Greg Johnson and Natalia Lobanova.
A total of 66,620,969 common shares were cast at the AGM, representing 42.4% of the votes attached to all outstanding shares as at the record date for the meeting. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows:
| Voted in Favour | ||
| Matter Approved | Number of | % of |
| Shares | Votes Cast | |
| Set the number of directors at 4 (four) | 59,212,500 | 100.00 |
| Elect Kirill Klip as Director | 58,981,000 | 99.61 |
| Elect John Davies as Director | 59,057,500 | 99.74 |
| Elect Greg Johnson as Director | 59,057,500 | 99.74 |
| Elect Natalia Lobanova as Director | 59,055,000 | 99.73 |
| Appoint Manning Elliott LLP as auditor | 66,365,248 | 99.62 |
| Renew Stock Option Plan | 58,988,500 | 99.62 |
The Company’s CEO, Kirill Klip remarked, “I would like to thank the shareholders of our Company for the overwhelming support of the TNR Gold team. We are continuing to concentrate our efforts on the active management of our portfolio, including lithium and copper royalties, and the gold project. Our priority is to expand our shareholder base and build access to new sources of capital in order to realize our strategic goals and provide long-term value for all our stakeholders.”
ABOUT TNR GOLD CORP.
TNR Gold Corp. is working to become a green energy metals royalty company.
Over the past 22 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% NSR royalty on the entire project, which is being developed by McEwen Mining Inc.
TNR holds a strategic stake in International Lithium Corp. (“ILC”), a green energy metals company that was created through the spin-out of TNR’s energy metals portfolio in 2011. ILC holds interests in lithium projects in Argentina, Ireland and Canada.
TNR retains a 1.8% NSR royalty on the Mariana Lithium Brine Property in Argentina. ILC has a right to repurchase 1.0% of the NSR royalty on the Mariana Lithium property of which 0.9% relates to the Company’s NSR interest. The Company would receive $900,000 on the execution of the repurchase. The project is currently being advanced in a joint venture between ILC and Ganfeng Lithium International Co. Ltd.
At its core, TNR provides significant exposure to gold, copper and lithium through its holdings in Alaska (the Shotgun gold porphyry project) and Argentina, and is committed to the continued generation of in-demand projects, while diversifying its markets and building shareholder value.
On behalf of the Board of Directors,
Kirill Klip
CEO and Chairman
www.tnrgoldcorp.com
For further information concerning this news release please contact +1 604-700-8912.
Neither 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 release.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “will”, “could” and other similar words, or statements that certain events or conditions “may” or “could” occur, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: TNR’s corporate objectives, changes in share capital, market conditions for energy commodities, the results of McEwen Mining’s PEA, and improvements in the financial performance of the Company. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s profile on www.sedar.com. While management believes that the assumptions made and reflected in this news release are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. In particular, there can be no assurance that: TNR will be repay its loans or complete any further royalty acquisitions or sales; debt or other financing will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.
In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting TNR and its royalty partners, McEwen Mining Inc. and International Lithium Corp. or its joint venture partner, Ganfeng Lithium will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.
Forward-looking information herein and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.