- Thunderstruck Resources (TSXV:AWE) has completed its over-subscribed private placement for gross proceeds of C$1.05 million
- Under the placement, the company issued a total of 17.5 million units at a price of six cents each, consisting of one common share and one common share purchase warrant
- The warrants are exercisable at a price of 10 cents over a period of five years
- The proceeds raised will be used to fund exploration and drilling activities at the company’s Liwa Creek gold asset in Fiji
- Thunderstruck Resources (AWE) is currently up 6.67 per cent to eight cents per share at 12:05pm EDT
Thunderstruck Resources (TSXV:AWE) has completed its over-subscribed private placement for gross proceeds of C$1.05 million.
Under the terms of the placement, the British Columbia-based company issued a total of 17.5 million units at a price of six cents each, consisting of one common share and one common share purchase warrant.
Each purchase warrant will be exercisable at a price of 10 cents per share over a period of five years from the date of issuance.
In connection with the offering, Thunderstruck Resources paid a total finder’s fee of $11,520 to certain parties.
The proceeds raised under the placement will be used to fund exploration and drilling activities at the company’s primary Liwa Creek gold asset in Fiji, which is characterised by a series of anomalies stretching more than three kilometres along strike and open in all directions.
While exploration at the property has so far been limited, Thunderstruck believes that geological and geochemical evidence suggests an epithermal gold-silver environment with significant potential for the discovery of further mineralisation.
Bryce Bradley, President and CEO of Thunderstruck Resources, commented on the successful completion of the financing.
“Drill rigs have been approved for mobilization to site and drilling is set to commence shortly after their arrival. Myself and our entire team are thankful to all of our new and loyal shareholders and proud to be working in a country where strict policies have led to no new COVID cases for over two months.
“We will continue to work closely with authorities to ensure that our practices meet or exceed the high standard outlined by Fijian governing bodies,” he added.
Thunderstruck Resources (AWE) is up 6.67 per cent and is trading at eight cents per share at 12:05pm EDT.