Thunderstruck Resources Ltd (CVE:AWE, OTCQB:THURF) has arranged a non-brokered private placement as it expands its gold exploration programs in Fiji.
The Canadian mineral exploration company recently announced that it would expand its known targets at its Liwa Creek Gold prospect after discovering a possibly significant new gold zone.
Shares of the company surged 9% to C$0.06 in Tuesday afternoon trading.
A maximum of 1,666,667 units are up for sale at $0.06 per unit, looking to raise a total of $100,000 to funnel towards its exploration programs.
Each unit will comprise one common share and one half of one share purchase warrant while each warrant will allow the holder to buy a common share for $0.15 per share for a period of 36 months.
However, if the company’s common shares close higher than $0.25 per share for 20 consecutive trading days, then Thunderstruck may notify shareholders that the warrants’ terms may be accelerated to a period of 30 days.
Contact Lenore Fedow at [email protected]