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Message: Arranges Debenture Debt Settlement
| May 1, 2009 |
| TNR Gold Corp. Arranges Debenture Debt Settlement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2009) - TNR Gold Corp. (TSX VENTURE:TNR) ("TNR" or the "Company") announces that, subject to regulatory approval, it has arranged a settlement of $420,000 of debt through the issuance of a Convertible Secured Debenture (the "Settlement"). The debenture has a term of one year and bears interest, payable quarterly, at 9% per annum, compounded semi-annually (9.2% p/a). The debenture is convertible by its holder at any time during the term into units (the "Units") at $0.105 per Unit. Each Unit is comprised of one common share. Quarterly interest payments may also be made in Units, at the election of the holder. The debenture will be secured by a general security agreement, and its holder has the right to roll its debenture into any other debt or equity financing carried out by the Company during the term. Completion of the Settlement is subject to the receipt of all required regulatory approvals. ABOUT TNR TNR is a diversified metals exploration company focused on identifying new prospective projects globally with 22 properties currently in its portfolio. In anticipation of the surging international lithium demand in various high tech and efficient energy applications, TNR has actively pursued an aggressive global acquisition strategy for Lithium and Rare Metals projects of merit. This further confirms the company's commitment to project generation, market diversity, and building shareholder value. On behalf of the board, Gary Schellenberg, President |
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