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Thunderstruck Resources closes oversubscribed placing as it expands exploration in Fiji

The company sold around 1.9 million units at $0.06 each
Thunderstruck Resources closes oversubscribed placing as it expands exploration in Fiji
The private placement was oversubscribed

Fiji-focused resource group Thunderstruck Resources Ltd (CVE:AWE, OTCQB:THURF) told investors it had raised $114,220 (gross) after closing an oversubscribed private placing.

The company sold around 1.9 million units at $0.06 each.

READ: Thunderstruck Resources arranges private placement as Fiji exploration programs expand

The mining group is expanding its gold exploration programs in Fiji — namely the known targets at its Liwa Creek Gold prospect after discovering a potentially significant new gold zone.

Each unit consisted of one share and one warrant, allowing the holder to buy a  further share for $0.15 per share until November 9, 2021.

The warrants are subject to an accelerated exercise provision.

Thunderstruck president and CEO Bryce Bradley noted that the company would be presenting at the London Mines and Money conference between November 26 and November 29.

She is looking forward, she said, to "advancing discussions with potential partners to continue developing our highly prospective suite of zinc, copper and gold assets".

Shares in Toronto added 8.33% to $0.065 Friday.

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