Thundermin Announces Proposed Private Placement for Up to $600,000
19 Décembre 2013 - 4:01PM
Marketwired
Thundermin Announces Proposed Private Placement for Up to $600,000
TORONTO, ONTARIO--(Marketwired - Dec 19, 2013) - Thundermin
Resources Inc. ("Thundermin") (TSX-VENTURE:THR) announces that it
intends to raise, subject to regulatory approval and closing,
$600,000 (the "Offering") in a non-brokered private placement.
The Offering will
consist of $450,000 in flow-through units (the "FT Units") at a
price of $0.05 per FT Unit and $150,000 in non-flow-through units
(the "Normal Units") at a price of $0.05 per Normal Unit. Each FT
Unit will consist of one flow-through common share and one half of
one non-transferable common share purchase warrant (each, a "FT
Warrant"). Each Normal Unit will consist of one common share and
one non-transferable common share purchase warrant (each, a "Normal
Warrant" and together with the FT Warrants, the "Warrants"). Each
whole FT Warrant will entitle the holder to purchase an additional
common share of Thundermin at a price of $0.07 per share for a
period of 18 months from the date of closing of the Offering. Each
Normal Warrant will entitle the holder to purchase an additional
common share of Thundermin for a period of 24 months from the date
of closing of the Offering. The Warrants will be subject to an
early call provision. In the event that Thundermin's shares trade
at a weighted average price of $0.14 per share or more for a period
of at least 20 consecutive trading days, Thundermin will have the
right, upon giving notice in writing to the Warrant holders, to
accelerate the expiry date of the Warrants to the date that is 30
days from the date that notice was provided.
Subject to the rules
of the TSX Venture Exchange, Thundermin will pay eligible finders a
fee consisting of cash and/or shares on that portion of the
Offering that is arranged by the eligible finders.
The proceeds of the
Offering will be used to fund Thundermin's exploration projects in
Canada that qualify as "Canadian exploration expenses" under the
Income Tax Act (Canada) and for general working capital purposes.
In particular, Thundermin will use the funds raised from the FT
Units to fund its 50% share of an approximately $600,000 diamond
drilling program that Thundermin and joint venture partner, Rambler
Metals and Mining Canada Limited, intend to undertake on the Little
Deer Copper Deposit located approximately 10 km north of Springdale
in north-central Newfoundland. The purpose of this program, which
will commence by mid-January, is to expand resources at Little Deer
and to commence upgrading inferred resources to indicated resources
which is required before a pre-feasibility study can be
undertaken.
About Thundermin
Thundermin is a
Canadian-based mineral exploration company focused on the
exploration for and the discovery of economically viable base metal
and gold deposits in Canada. Thundermin has an interest in, or the
right to earn an interest in 12 base metal and gold properties in
Canada. Thundermin owns a 100% interest in the Lebel Township gold
property, which is located on the Kirkland Lake Main Break in the
prolific Kirkland Lake gold camp. Thundermin has the right to earn
a 100% interest in eight exploration licenses covering a large
portion of the Stirling volcanogenic massive
zinc-lead-copper-silver-gold sulphide belt located on Cape Breton
Island, Nova Scotia. An initial diamond drill program undertaken on
the property in 2012 was successful in intersecting copper
mineralization in porphyritic volcanic rocks similar to those known
to host massive sulphide deposits elsewhere. Thundermin has royalty
interests in 12 base metal and gold properties located in Manitoba,
Saskatchewan, British Columbia and Quebec, the most significant
being a 2.5% net smelter return royalty in the Pelletier Lake gold
deposit which is under option to QMX Gold Corporation. The
Pelletier Lake property is currently in arbitration with Thundermin
aiming to regain full ownership of the property. Thundermin also
has various shareholdings in twelve other junior resource companies
exploring for base metal, gold, chrome, and diamond deposits in
Canada.
Forward-Looking
Statements
This news release
may contain "Forward-Looking Statements" that involve risks and
uncertainties, such as statements of Thundermin's plans,
objectives, strategies, intentions and expectations. The words
"potential," "anticipate," "forecast," "believe," "estimate,"
"expect," "may," "project," "plan," and similar expressions are
intended to be among the statements that identify "Forward-Looking
Statements". Although Thundermin believes that its expectations
reflected in these "Forward-Looking Statements" are reasonable,
such statements may involve unknown risks, uncertainties and other
factors disclosed in our regulatory filings that can be viewed on
the SEDAR website at www.sedar.com. For us, uncertainties arise
from the behavior of financial and metals markets and from numerous
other matters of national, regional, and global scale, including
those of an environmental, climatic, natural, political, economic,
business, competitive, or regulatory nature. These uncertainties
may cause our actual future results to be materially different than
those expressed in our "Forward-Looking Statements". Although
Thundermin believes the facts and information contained in this
news release to be as correct and current as possible, Thundermin
does not warrant or make any representation as to the accuracy,
validity or completeness of any facts or information contained
herein and these statements should not be relied upon as
representing its views subsequent to the date of this news
release.
NEITHER TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX-VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE).
For further information on Thundermin Resources Inc. please
visit Thundermin's website at www.thundermin.com or the SEDAR
website at www.sedar.com.
Thundermin Resources Inc.John B. HeslopPresident & CEO(647)
344-1167Thundermin Resources Inc.James W. GillChairman(416)
450-1851info@thundermin.comwww.thundermin.com
Thundermin Resources Inc. (TSXV:THR)
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