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Thunderstruck Resources closes financing; raises C$100,000 to bolster Fiji exploration program

The company said funds will go towards its exploration programs in Fiji, as well as general working capital

fiji
Thunderstruck's two flagship properties in Fiji are the Nakoro and Wainaleka zinc/copper projects

Thunderstruck Resources Ltd (CVE:AWE, OTCQB:THURF) said Monday it has closed a non-brokered private placement, raising C$100,000. 

The company said 1,692,000 units were sold at $0.06 per unit, raising a total of C$101,520.00 to funnel towards its exploration programs in Fiji, as well as towards general working capital.

WATCH: Thunderstruck Resources arranges private placement to continue exploration program

The exploration company recently announced that it is conducting its induced polarization geophysical study on its Rama Creek Copper/Gold Porphyry and on its Liwa Creek Gold Prospect in Fiji. The company said surveys were currently being completed and it will provide an update geophysical inversion products and an interpretation of the results are complete.

The company said each unit comprises one common share and one half of one share purchase warrant while each warrant will allow the holder to buy a common share for $0.15 per share for a period of 36 months.

However, if the company’s common shares close higher than $0.25 per share for 20 consecutive trading days, then Thunderstruck may notify shareholders that the warrants’ terms may be accelerated to a period of 30 days. No finder's fees were payable in connection with the placement.

Shares of Thuderstruck Resources were at C$0.075 on Monday.

 

Contact Katie Lewis at [email protected]
Follow her on Twitter: @kelewis

Quick facts: Thunderstruck Resources

Price: 0.045 CAD

TSX-V:AWE
Market: TSX-V
Market Cap: $2.61 m
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