Offering completed at C$0.20 per unit of one common share, one warrant
By Devika Patel
Knoxville, Tenn., Oct. 1 - Thunder Mountain Gold, Inc. sold a total of 6,208,271 units in a non-brokered private placement of units on Sept. 24, according to an 8-K filed Friday with the Securities and Exchange Commission.
The deal priced for C$1.2 million on July 13 and was increased to C$1.24 million on Sept. 16. The company raised C$291,654 in the first tranche on Sept. 14.
The company sold the units at C$0.20 per unit. It sold 1,458,271 units in the first tranche. Each unit consists of one common share and one warrant. The two-year warrants are exercisable at C$0.20 in the first year and at C$0.35 thereafter.
The strike prices reflect a 33.33% discount and a 16.67% premium to the July 12 closing share price of $0.30.
Elko, Nev.-based Thunder Mountain is a gold exploration company.
| Issuer: | Thunder Mountain Gold, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,241,654
|
| Units: | 6,208,271
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20 in the first year, C$0.35 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | July 13
|
| Upsized: | Sept. 16
|
| Settlement dates: | Sept. 14 (for C$291,654), Sept. 24
|
| Stock symbol: | OTCBB: THMG
|
| Stock price: | $0.30 at close July 13
|
| Market capitalization: | $4.94 million
|
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