New York – September 18, 2026 -- Eucalyptus Resources Opportunities Fund 1, LP said its slate of four director nominees at TNR Gold Corp. (TSXV: TNR) has secured support from over 45% of shares ahead of a September 17, 2026, 9:00 p.m. Eastern Time proxy voting deadline, up from roughly 43% disclosed just two days earlier.
Eucalyptus reports TNR's September 15 statement to the BCSC
Eucalyptus, together with joint actors Jon Christian Evensen and Alicia Cauteruccio Evensen, said TNR's September 15, 2026 press release abandoned any defense of its nominees' record or corporate plans, instead pivoting to what Eucalyptus called meritless allegations. Eucalyptus has notified the British Columbia Securities Commission of the release and accused TNR of following a delay playbook it attributes to advisors also retained by NorthWest Copper Corp. during a 2023 contested meeting, where the BCSC ultimately rejected joint-actor delay tactics for lacking "sufficiently clear, convincing and cogent evidence."
Nominees hold over 37 million market-purchased shares combined
Eucalyptus said three of its four nominees each own or control at least 800,000 TNR shares, with the group collectively holding more than 37 million shares acquired on the open market rather than issued from company treasury. The dissident group contrasted this with what it described as continued dilution and cash-salary spending by TNR's current leadership, which it labeled the Klip "family business," amid stalled progress on the company's royalty portfolio and its Shotgun Project.
Two market-moving events preceded the fight for control
Eucalyptus pointed to two trading sessions it says validate shareholder appetite for change: JC Evensen's initial public call for change at TNR on June 5, 2025, and Eucalyptus's Early Warning Report filing on March 27, 2026. Both dates, according to the fund, triggered two of TNR's largest single-day stock gains over the prior five years, with most of the positive return occurring after Evensen's involvement began.
Shareholders face a September 22 annual and special meeting
The vote is tied to TNR's annual general and special meeting scheduled for September 22, 2026. Eucalyptus is calling on TNR to commit to holding the meeting as planned without procedural interference, warning that if TNR does not disclose its own proxy tallies, shareholders should assume the company lacks sufficient votes and is instead seeking to delay or subvert the outcome.
Eucalyptus has mailed a reminder letter to shareholders, filed under TNR's profile on Sedar+, urging votes on the GREEN proxy before the deadline. Laurel Hill Advisory Group is acting as proxy solicitation agent, with Farris LLP serving as Eucalyptus's legal counsel.