- Blue Thunder Mining (BLUE) has closed its previously announced non-brokered private placement for gross proceeds of $1,607,500
- The company issued 18,625,000 units and 17,250,000 flow-through units
- Blue Thunder is a gold exploration company
- Blue Thunder Mining Inc. (BLUE) opened trading at C$0.03 per share
Blue Thunder Mining (BLUE) has closed its previously announced non-brokered private placement for gross proceeds of $1,607,500.
The company issued 18,625,000 units priced at $0.04 per unit and 17,250,000 flow-through units priced at $0.05 per FT unit.
Each unit comprised one common share and one common share purchase warrant.
Each FT unit comprised one common share and one warrant.
Each share purchase warrant entitles the holder to purchase one share priced at $0.07 for a period of 36 months from closing.
The shares and warrants issued are subject to a mandatory four-month hold period, expiring on April 30, 2022. The offering remains subject to the final approval of the TSX Venture Exchange.
Company insiders subscribed for 3,125,000 units.
The net proceeds raised from the sale of the FT units will fund the exploration of the Muus Gold project.
Jean Francois Metail, President of Blue Thunder commented on the financing.
“We are very encouraged by the enthusiastic support for the financing and are eminently grateful for the participation of so many of our loyal shareholders. Our Muus Gold project is among the largest land assemblages near the Chibougamau Gold District in Quebec, along the same major structural trends as IAMGOLD’s Nelligan project to the east.”
The company paid a commission to Red Cloud equal to 8.75 per cent of the gross proceeds for the number of units it placed, payable in the form of 1,863,750 common shares. The company also issued 1,596,000 finder’s warrants to Red Cloud. A cash commission was paid to PI Financial Corp.
Blue Thunder is a gold exploration company that controls 100 per cent of a large land position near Chibougamau, Québec.
Blue Thunder Mining Inc. (BLUE) opened trading at C$0.03 per share.
