Vancouver, August 13, 2020 - Great Thunder Gold Corp. (CSE: GTG) (OTC: MLBVF) (FSE: M4KQ) is pleased to report that it has closed its previously announced non-brokered private placement of 4,600,661 units at a price of $0.65 per unit to raise gross proceeds of $2,990,429.
Each unit consists of one common share and one-half of one warrant. Each full warrant, in turn, entitles the holder to purchase an additional common share at a price of $0.85 until August 13, 2022. All securities issued pursuant to this offering are subject to a four-month hold period and may not be traded until at least December 14, 2020, except as permitted by applicable securities legislation.
Great Thunder Gold will use the net proceeds from the offering to fund exploration of its Northbound, Southern Star and other properties in the Fenelon Gold Camp of Quebec and for general working capital.
The Company relied on sections 5.5(c) and 5.7(1)(b) of Multilateral Instrument 61-101 to exempt the offering from the requirements for a formal valuation and minority shareholder approval. Neither the Company nor the purchasers have knowledge of any material information concerning the Company or its securities that has not been generally disclosed.
The Company paid aggregate finders' fees of $105,308 and 162,012 warrants exercisable at $0.85 per share until August 13, 2022 in respect of the offering.
About Great Thunder Gold
Great Thunder Gold is a junior Canadian mining exploration company focused on exploration and development along the Detour Gold trend in Quebec. The Company is one of the largest mineral claim holders next to the region's leader, Wallbridge Mining Company Ltd..
On Behalf of the Board of Directors,
"Blair Naughty"
President and CEO
Investor Relations
Email: info@greatthundergold.com
Direct Line: (236) 513-4653
www.greatthundergold.com
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61637
