Thunderstruck Resources Ltd (TSXV:AWE) , the Canadian mining exploration group, has raised additional capital for its Fiji mining projects, with the successful closure of an oversubscribed C$150,000 private placement.
The financing proved popular with investors and resulted in the raising of gross proceeds of C$203,580 via the sale of 2,262,000 units at a price of C$0.09 per unit.
The money raised will be used for working capital as well as to fund exploration programs for Thunderstruck’s Fiji properties.
Each unit is made up of one common share and a single share purchase warrant. The extra warrant allows its holder to purchase a further common share at a price of C$0.15 per share until May 25, 2021.
All securities issued in this first tranche are subject to a hold period in Canada, which expires on September 26, 2018.
Read: Thunderstruck Resources provides an update on its Fiji field operations
Field operations at Thunderstruck’s one-hundred-percent-owned zinc, copper and gold projects in Vitu Levu, Fiji are in full swing now as the company has its entire land package in the country under its control.
Thunderstruck owns vast tracts of land with zinc, copper and gold assets that cover nearly 4% of Fiji’s main island. Its investors are offered the chance to gain exposure to a diverse portfolio of its exploration stage projects.
Thunderstruck’s shares were flat at C$0.08 in afternoon trade.
