Lithium Royalty Proposes All-Cash Acquisition of TNR Shares for CDN 0.08/Share.

MANews-(C)2009-2023

Canada-based lithium-focussed royalty company Lithium Royalty Corp. (TSX: LIRC) has proposed a non-binding all-cash offer to acquire all common shares of Canadian metals royalty and gold company TNR Gold Corp. (TSX Venture: TNR) for CDN 0.08 (USD 0.059) per common share, the company said.

The Proposed Transaction, submitted to the board on September 25, 2023, represents a 45% premium to TNR's closing share price on September 28, 2023, and 10 times the total cumulative volume traded over the last twelve months.

The Proposed Transaction implies a premium to TNR's share price of:

45% based on TNR's closing share price on September 28, 2023,

45% based...

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