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Thunderstruck Resources announces C$1M placing to advance assets in Fiji

The firm will issue up to 10 million units at C$0.10 each for gross proceeds of up to C$1 million

Canadian dollar
Each unit comprises one company share and one-half of a non-transferable share purchase warrant

Thunderstruck Resources Ltd (CVE:AWE) (OTCQB:THURF) is set to raise C$1 million via a placing to advance its projects in Fiji.

It will issue up to 10 million units at C$0.10 each for gross proceeds of up to C$1 million, the company said in a statement.

Each unit comprises one company share and one-half of a non-transferable share-purchase warrant. Each whole warrant will be exercisable to acquire one share at an exercise price of C$0.20 each for 36 months from the date of issue, subject to an acceleration right.

Thunderstruck said it plans to use the proceeds from the offering for "ground geophysical survey completion on the Rama copper porphyry and Liwa gold prospect, Liwa Creek trenching for gold in soil anomaly, and commence diamond or man-portable drilling on the Rama and/or Liwa projects".

Contact Giles at [email protected]

Follow him on Twitter @Gile74

Quick facts: Thunderstruck Resources

Price: 0.06 CAD

TSX-V:AWE
Market: TSX-V
Market Cap: $3.67 m
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