09:19:23 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Thunderstruck Resources Ltd (2)
Symbol AWE
Shares Issued 25,402,562
Close 2023-06-29 C$ 0.155
Market Cap C$ 3,937,397
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Thunderstruck arranges $250,000 private placement

2023-07-06 13:26 ET - News Release

Mr. Rob Christl reports

THUNDERSTRUCK ANNOUNCES PRIVATE PLACEMENT

Thunderstruck Resources Ltd. has arranged a private placement of up to $250,000.

The non-brokered private placement involves the sale of up to 1,666,667 units at a price of 15 cents per unit for aggregate gross proceeds of $250,000. Each unit will comprise one common share and one share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of 20 cents per share for a period of 36 months. The warrants will be subject to accelerated exercise provisions such that, if the closing price of the company's common shares exceeds 30 cents per share for a period of 20 consecutive trading days, the company may give notice of the acceleration of the warrants' term to a period of 30 days following such notice.

Finders' fees may be payable in accordance with the policies of the TSX Venture Exchange.

Proceeds of the placement will be utilized as working capital. The placement is subject to regulatory approval, including the approval of the TSX-V.

Directors and officers of the company may acquire securities under the placement, which participation would be considered to be a related party transaction as defined under the Multilateral Instrument 61-101. Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

The company reserves the right to increase the number of units issued pursuant to the placement to up to 3,333,333 units for up to total gross proceeds of $500,000.

About Thunderstruck Resources Ltd.

Thunderstruck Resources is a Canadian mineral exploration company focused on the discovery of high-value gold-silver epithermal and copper-gold porphyry deposits on the main island of Viti Levu in Fiji.

Fiji has a long history of mining with over 75 years of activity at the prolific Vatukoula gold mine alongside several advanced development projects, including Tuvatu (Lion One), with indicated resources of one million tonnes of 8.48 grams per tonne gold (274,600 ounces) and inferred resources of 1.33 million tonnes of 9.0 grams per tonne gold (384,000 ounces) (Tuvatu preliminary economic assessment update -- National Instrument 43-101); and Namosi (Newcrest Mining), with proven, measured and indicated resources of 1.8 billion tonnes at 0.35 per cent copper and 0.11 gram per tonne gold (6.4 million ounces gold and 6.3 million tonnes copper) (Newcrest annual mineral resources update; June, 2022).

The company provides investors with exposure to a diverse portfolio of exploration-stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction. Thunderstruck trades on the TSX-V under the symbol AWE and on the United States OTC (over-the-counter) market under the symbol THURF.

We seek Safe Harbor.

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