Deal funds drilling at Little Deer Copper Deposit, Lebel gold property
By Devika Patel
Knoxville, Tenn., Feb. 11 - Thundermin Resources Inc. said it has negotiated a private placement of units. The company will raise C$1.75 million.
Thundermin will sell 6,730,770 units of one flow-through common share and one half-share warrant at C$0.26 per unit. Each full warrant will be exercisable at C$0.35 for 18 months. The strike price is a 66.67% premium to the Feb. 10 closing share price of C$0.21.
Settlement is expected Feb. 24.
Proceeds will be used for exploration projects in Canada, including diamond drilling programs on the Little Deer Copper Deposit and an initial diamond drilling program on Thundermin's Lebel gold property.
Thundermin is a base metal and gold exploration company based in Toronto.
| Issuer: | Thundermin Resources Inc.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$1.75 million
|
| Units: | 6,730,770
|
| Price: | C$0.26
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 24
|
| Stock symbol: | Toronto: THR
|
| Stock price: | C$0.21 at close Feb. 10
|
| Market capitalization: | C$16.15 million
|
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