Non-brokered deal funds exploration, drilling and working capital
By Susanna Moon
Chicago, Jan. 3 - Thundermin Resources Inc. said it sold C$1.22 million of flow-through units in a non-brokered private placement after pricing the deal at C$1.5 million on Nov. 29.
The company sold 9,378,000 flow-through units of one flow-through common share and one half-share warrant at C$0.13 per unit. The company had planned to sell C$1.25 million of the flow-through units.
Thundermin also had planned to sell C$250,000 of units of one common share and one half-share warrant at C$0.105 per unit.
Each warrant will be exercisable at C$0.20 for 18 months. The strike price is a 100% premium to the Nov. 28 closing share price of C$0.10.
Proceeds will be used for exploration, general working capital, diamond drilling programs on the Little Deer and Whalesback Copper deposits and the Lebel gold property as well as for geophysical surveys and diamond drilling on Thundermin's Stirling zinc-lead-copper-silver-gold project.
Thundermin is a base metal and gold exploration company based in Toronto.
| Issuer: | Thundermin Resources Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$1,219,140
|
| Units: | 9,378,000
|
| Price: | C$0.13
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 29
|
| Settlement date: | Jan. 3
|
| Stock symbol: | Toronto: THR
|
| Stock price: | C$0.10 at close Nov. 28
|
| Market capitalization: | C$8.25 million
|
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