Stockwatch

Thunderstruck Resources Ltd (2)
Symbol	AWE
Shares Issued	25,939,229
Close 2023-08-25	C$ 0.085
Market Cap	C$ 2,204,834
Recent Sedar+ Documents

Thunderstruck completes drill rig acquisition

2023-08-28 09:47 ET - News Release

Subject: Thunderstruck Resources Ltd. (AWE.V) Word Document File: '\\swfile\EmailIn\20230828 062840 Attachment AWE-NR-08-25-23.docx' [Type text][Type text][Type text] Thunderstruck Resources Ltd. www.thunderstruck.ca TSXV: AWE; OTC: THURF TSXV: AWE OTC: THURF w Thunderstruck Resources Ltd. www.thunderstruck.ca TSX-V: AWE OTC: THURF Thunderstruck Update August 28, 2023 - Vancouver, British Columbia - Thunderstruck Resources Ltd. (the "Company") is pleased to announce , further to its press release dated August 1, 2023, that it has completed the acquisition of the drill rig and related equipment from Austasia Investments Pte Ltd. Aggregate consideration of USD$211,726 is due, of which US$100,000 was paid from previously advanced deposit, US$86,726 was paid through the issuance of 722,717 units (each a "Unit") at a deemed price of USD$0.12 per Unit and the remaining US$25,000 will be paid within six months. Each Unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to acquire an additional common share at a price of US$0.20 per share until August 25, 2023. All securities issued as part of the Units are subject to a hold period in Canada expiring on December 26, 2023 The Company also reports, further to its press release dated July 18, 2023, that it is further extending the time for completion of its previously announced private placement (the "Financing") to September 25, 2023 (see press releases dated July 6 and July 7, 2023). The Company completed an initial tranche of the Financing on July 7, 2023, raising aggregate gross proceeds of $80,499.90 through the sale 536,666 units at a price of $0.15 per unit (each a "Unit") and still intends to raise a further $420,000 through the sale of up to 2,800,000 Units. Each Unit will comprise one common share and one share purchase warrant. Each whole warrant (a "Warrant") entitles the holder to acquire an additional common share at a price of $0.20 per share for a period of 36 months. The Warrants will be subject to an accelerated expiry provision such that if the closing price of the Company's common shares is equal to or greater than $0.30 for a period of 10 consecutive trading days, the Company 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 utilized as working capital, repayment of liabilities and exploration activities. The placement is subject to regulatory approval, including the approval of the TSX Venture Exchange. The Company also reports that effective August 30, Rob Christl is no longer VP Business Development and IR. About Thunderstruck Resources 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 LIO:TSX.V), Indicated Resources of 1.00 Mt @ 8.48 g/t Au (274,600 oz), Inferred Resources of 1.33 Mt @ 9.0 g/t Au (384,000 oz) (Tuvatu-PEA-Update-NI-43-101) and Namosi (Newcrest Mining NCM:ASX), Proven, Measured and Indicated Resources of 1.8Bt at 0.35% Cu and 0.11 g/t Au (6.4M oz Au and 6.3Mt Cu) (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 Toronto Venture Exchange (TSX-V) under the symbol "AWE" and United States OTC under the symbol "THURF." For additional information, please contact: Bryce Bradley, Chief Executive Officer Email: bryce@thunderstruck.ca or, visit our website: http://www.thunderstruck.ca Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains certain statements that may be deemed "forward-looking statements". Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck's management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.