News News
Great Thunder arranges $1.18-million private placement
2016-05-27 12:29 ET - News Release
Mr. Kevin Whelan reports
GREAT THUNDER ANNOUNCES PRIVATE PLACEMENT
Great Thunder Gold Corp. is arranging a non-brokered private placement financing of up to four million non-flow-through units at a price of 12.5 cents per unit and four million flow-through shares at a price of 17 cents per share.
Each non-flow-through unit will consist of one common share and one share purchase warrant. Each warrant, in turn, will entitle the holder to purchase an additional common share at a price of 20 cents for a period of one year following the closing of the offering.
The proceeds from the offering will be used for exploration of the company's lithium prospects and general working capital purposes. The financing is subject to TSX Venture Exchange acceptance and is open to qualified investors. Great Thunder may pay cash finders' fees of up to 7 per cent of the subscription proceeds or 7 per cent in the form of warrants in respect of the financing.
Up to one-third of the units may be issued to subscribers who are directors, officers and other related parties. The company will rely on sections 5.5(c) and 5.7(b) of Multilateral Instrument 61-101 to exempt the offering from the requirements for a formal valuation and minority shareholder approval. To the company's knowledge, there is no material information concerning the company or its securities that has not been generally disclosed.