- Thunderstruck Resources (AWE) has closed its non-brokered private placement for gross proceeds of C$2,500,000
- The company issued 35,714,285 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 have entered into an investor rights agreement
- Thunderstruck Resources is a Canadian mineral exploration company focused on highly prospective properties in Fiji
- Thunderstruck Resources Ltd. (AWE) opened trading at $0.095 per share
Thunderstruck Resources (AWE) has closed its previously announced non-brokered private placement for gross proceeds of C$2,500,000.
The company issued 35,714,285 units at a price of $0.07 per unit. Each unit consists of one common share and one share purchase warrant. Each purchase warrant entitles the holder to purchase an additional common share at a price of $0.15 for a period of five years.
The warrants are subject to an acceleration clause.
No finder’s fees were payable in connection with the placement.
Thunderstruck’s President/CEO Bryce Bradley commented on the impact of the financing.
“This placement will allow us to aggressively explore the many promising targets on our large property position in Fiji this season, including the three-kilometer-long series of coincident geochemical and geophysical anomaly trend on the Liwa gold prospect. We look forward to releasing results on a number of exciting targets that have never previously seen a drill bit.”
As previously announced, the completion of the placement results in the creation of a new insider, Ian Gandel, who will indirectly hold 31,753,203 common shares, representing 25 per cent of the now outstanding common shares of the company and a further 31,753,203 warrants, which together with the common shares acquired, will represent 40 per cent of the issued and outstanding shares on a partially diluted basis.
Thunderstruck Resources and Mr. Gandel also entered into an investor rights agreement, whereby Mr. Gandel will have certain rights, including the right to appoint one director of the company.
In addition, Mr. Gandel will have a right to participate in future equity issuances to maintain his ownership at 25 per cent.
Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji.
Thunderstruck Resources Ltd. (AWE) opened trading at $0.095 per share.
