Source: Thunderstruck Resources Ltd.
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  • Thunderstruck Resources has announced a private placement with Australian businessman Ian Gandel for C$2,500,000
  • The company will issue up to 35,714,285 million units at a price of $0.07 per unit
  • Proceeds of the placement will be applied primarily to the company’s 2022 exploration and drilling programs
  • Thunderstruck and Mr. Gandel will enter into an investor rights agreement
  • Thunderstruck Resources is a Canadian mineral exploration company focused on highly prospective properties in Fiji
  • Thunderstruck Resources Ltd. (AWE) is unchanged, trading at C$0.115 per share at 3:40 pm ET

Thunderstruck Resources (AWE) has announced a private placement with Australian businessman Ian Gandel for C$2,500,000.

The company will issue up to 35,714,285 million units at a price of $0.07 per unit. Each unit will consist of one common share and one share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of $0.15 per share for a period of 5 years.

The warrants are subject to accelerated exercise provisions such that if the closing price of the company’s common shares exceeds $0.30 per share for a period of 20 consecutive trading days, Thunderstruck may give notice of the acceleration of the warrants’ term to a period of 30 days following such notice.

Proceeds of the placement will be applied primarily to the company’s 2022 exploration and drilling programs.

Thunderstruck and Mr. Gandel will enter into an investor rights agreement, whereby Gandel will have certain rights, including the right to appoint one director to the company.

In addition, Gandel will have a right to participate in future equity issuances to maintain his percentage ownership in the company for up to 15 years.

Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji.

Thunderstruck Resources Ltd. (AWE) is unchanged, trading at C$0.115 per share at 3:40 pm ET.

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