TNR up to $0.265 today on 300k volume - wonder which big group is moving in on TNR shares?

TNR Gold closes $1.18-million private placement

2009-08-04 14:11 ET - News Release

Mr. Gary Schellenberg reports

TNR GOLD CORP. CLOSES 5,900,000 UNITS PRIVATE PLACEMENT

TNR Gold Corp. has closed its non-brokered private placement previously announced in Stockwatch on July 6, 2009, and subsequently increased in Stockwatch on July 20, 2009, which has resulted in gross proceeds to the company of $1.18-million.

The offering consisted of the issuance of 5.9 million units of the company at a price of 20 cents per unit for gross proceeds of $1.18-million. Each unit consists of one common share and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the company at a price of 30 cents for a period of 12 months from the date of closing.

All securities issued pursuant to this offering are subject to a four-month hold period from the date of closing.

TNR's non-executive chairman Kirill Klip along with Canada Zinc Metals Corp. have subscribed for a significant portion of the financing along with other insiders and management.

Proceeds of the offering will be used to finance the evaluation of TNR's lithium and rare metal properties, implement the proposed spin-off of International Lithium Corp. and for general corporate purposes.

We seek Safe Harbor.