en.Wedoany.com Reported - Canadian mining company TNR Gold Corp. announced on May 25, 2026, that it has completed the previously announced strategic private placement to Altius Resources Inc., a wholly-owned subsidiary of Altius Minerals Corporation.

Upon closing of the placement, the company issued 23,500,000 common shares to Altius Resources, raising gross proceeds of C$4,171,250. The common shares issued are subject to a four-month-and-one-day hold period from the closing date. The proceeds will be used for potential corporate development, property maintenance, exploration at the Shotgun Gold Project in Alaska, the potential acquisition of a portion of the Mariana and Los Azules royalties held on behalf of shareholders, as well as general corporate purposes and working capital requirements.

TNR Gold Executive Chairman Kirill Klip stated: "We are pleased to welcome Altius as a strategic, non-controlling investor. The completion of this investment enables TNR to advance its strategic initiatives and reflects market recognition of the quality and potential of our assets." He added: "The company's business model provides an entry point into the creation of critical material supply chains, for energy metals driving the energy transition, while gold provides a hedge at this stage of the economic cycle. Our shareholders are participating in building a green energy metals royalty and gold company. The portfolio contains assets offering exposure to different stages of the mining cycle, from early-stage exploration potential to partnerships with industry leaders such as McEwen Inc., Ganfeng Lithium, Lundin Mining, and BHP, which have the potential to generate royalty cash flows and create shareholder value. I personally hold 27,763,000 common shares of TNR Gold, reflecting my personal commitment to the company and confidence in the team and strategic plan. We look forward to working with Altius to maximize value for all shareholders."

Altius commented: "This investment aligns with our strategy of prudently acquiring minority interests in companies holding royalties on high-potential mineral resource projects. TNR's royalty portfolio includes exposure to major copper and lithium deposits, such as the world-class Los Azules copper project and the recently commissioned Mariana lithium brine project, in which Altius also directly holds a royalty interest. We look forward to working constructively with the TNR team to advance its royalty portfolio and business."

At closing, the parties also entered into related ancillary agreements, including a Right of First Refusal Agreement granting the Altius subsidiary a right of first offer on the sale of TNR's 1.35% NSR royalty on the Mariana lithium project and 0.36% NSR royalty on the Los Azules copper project; and a Voting Agreement granting Altius the right to participate in future financings to maintain its pro-rata ownership, while Altius agreed to vote in favor of TNR management's director nominees and matters unanimously recommended by the board for a period of five years.

The completion of this transaction marks an important step for TNR Gold in optimizing its capital structure and advancing the development of its asset portfolio.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com