TNR Gold receives buyout offer from shareholder Altius
TNR Gold has entered into an exclusivity arrangement with shareholder Altius Minerals Corporation, after receiving an unsolicited nonbinding proposal from Altius regarding the potential acquisition of all common TNR shares not already owned by it.
Altius holds about 12.7% of TNR’s shares.
A special committee of TNR independent directors has reviewed the proposal and, in consultation with advisers, continues to evaluate it to determine the course of action that it believes to be in the best interests of the company and its shareholders.
TNR owns 90% of the Shotgun gold project – an advanced-stage exploration project, in Alaska, in the US. It also holds a 1.5% net smelter return (NSR) royalty on Ganfeng Lithium’s Mariana lithium project, in Argentina, and a 0.4% NSR royalty on McEwen’s Los Azules copper/gold/silver project, in Argentina.