New York, Oct. 16 - Thunder Sword Resources Inc. said it completed a private placement of C$2.1 million of units.
The company will sell 1.4 million units of one share and one warrant.
Each warrant is exercisable at C$2.00 for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$2.50 for more than 10 consecutive trading days.
Research Capital Corp. is the placement agent.
Thunder Sword announced the offering on July 14 at a size of up to C$2.25 million with a possible 1.5 million units.
Proceeds will be used to acquire a 51% interest in seven blocks of mineral claims in Saskatchewan. The remainder will be used for working capital.
Vancouver, B.C.-based Thunder Sword is a mineral exploration company.
| Issuer: | Thunder Sword Resources Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2.1 million
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| Units: | 1.4 million
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| Price: | C$1.50
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$2.00
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| Placement agent: | Research Capital Corp.
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| Pricing date: | July 14
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| Settlement date: | Oct. 16
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| Stock symbol: | TSX Venture: THU
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| Stock price: | C$1.70 at close July 13, C$2.44 at close Oct. 16
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