Thunderstruck Raises over $500,000 Through Warrant Exercise and Welcomes Red Cloud as Strategic Advisor
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2020) - Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) ("Thunderstruck" or the "Company") is pleased to announce that 5,197,000 warrants have been exercised at $0.10, for total proceeds of $519,700.00. This represents a 93% rate of conversion with the remaining 7% now expired.
This comes just a month after the company announced closing its $1,050,450 private placement to commence drilling at its Liwa Creek Gold asset in Fiji (see release dated June 25, 2020).
"We again can't thank our shareholders enough for the vote of confidence in exercising this round of warrants," commented Thunderstruck President and CEO Bryce Bradley, "This gives us significantly more runway to strategically execute our exploration plans at Liwa."
The Company is also pleased to announce that it has entered into a strategic advisory agreement with Red Cloud Financial Services Inc. who will support the company to execute its new and aggressive corporate access strategy. As a kickoff to this program Red Cloud will be hosting a webinar featuring Thunderstruck on Wednesday July 29th at 2pm EST. To register please click here.
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About Red Cloud Financial Services Inc.
Red Cloud Financial Services is a globally oriented, resource-focused financial services platform which offers clients an extensive array of corporate access services including advisory, marketing and media.
About Fiji
Viti Levu, the main island of Fiji, has a long mining history. It is on the prolific Pacific Ring of Fire, a trend that has produced numerous large deposits, including Porgera, Lihir and Grasberg. The island of Viti Levu hosts Namosi, held by a joint venture between Newcrest and Mitsubishi. Newcrest published Proven and Probable Reserves for Namosi of 1.3 billion tonnes at 0.37% Cu and 0.12 g/t Au (5.2M ounces Au and 4.9M tonnes Cu). Namosi is now undergoing environmental assessment as part of the permitting process. Lion One Metals is now developing its Tuvatu Project, with Indicated Resources of 1.1 million tonnes at 8.17 g/t Au (294,000 ounces Au), and Inferred Resources of 1.3 million tonnes at 10.6 g/t Au (445,000 ounces Au). The Vatukoula Gold Mine has been operating for 80 years, producing in excess of 7 million ounces.
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed VMS, copper and precious metals mineralization. The Company provides investors with exposure to a diverse portfolio of exploration stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol "AWE" and United States OTC under the symbol "THURF".
For additional information, please contact:
Rob Christl, Investor Relations
Email: rob@thunderstruck.ca
P: 778 840-7180
or, visit our website: http://www.thunderstruck.ca
Neither the TSX Venture Exchange Inc. 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.
This news release contains certain statements that may be deemed "forward-looking statements". Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck's management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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