Thunder Mountain Gold has closed a $5.66 million private placement, issuing 8,090,451 units at $0.70 per unit to advance its South Mountain gold project in Idaho.
Each unit comprises one common share and one-half of a common share purchase warrant. The warrants allow holders to buy an additional share at $1.00 for 24 months from issuance. The company also paid $66,563 in finder's fees to four Canadian brokers and issued 94,089 non-transferable warrants as compensation.
Proceeds will primarily fund drilling, assaying, and geophysical surveys at the South Mountain project, with additional allocations for general administration. The placement remains subject to final approval from the TSX Venture Exchange, and Canadian subscribers face a four-month hold period under exchange policies and Canadian securities law.
Securities issued are not registered under the U.S. Securities Act of 1933 and are restricted from U.S. sale without registration or applicable exemptions. Thunder Mountain trades on the TSX Venture Exchange under the symbol THM and on the OTCQB under THMG.
