Non-brokered deal funds exploration, drilling and working capital
By Devika Patel
Knoxville, Tenn., Nov. 29 - Thundermin Resources Inc. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell C$250,000 of units of one common share and one half-share warrant at C$0.105 per unit and C$1.25 million of flow-through units of one flow-through common share and one half-share warrant at C$0.13 per unit.
Each full 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.
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Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
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Amount: | C$1.5 million
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.20
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Agent: | Non-brokered
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Pricing date: | Nov. 29
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Stock symbol: | Toronto: THR
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Stock price: | C$0.10 at close Nov. 28
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Market capitalization: | C$8.25 million
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Units
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Amount: | C$250,000
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Price: | C$0.105
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Flow-through units
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Amount: | C$1.25 million
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Price: | C$0.13
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