Mining & Metals
Thunderstruck Resources Raises $1.5 Million Via Strategic Investment With Zhaojin; Shares Down 10%
Thunderstruck Resources (AWE.V) shares fell 10% after it closed its previously announced non-brokered private placement raising $1.5 million, it said on Wednesday.The placement consisted of 14.5-million common shares issued at $0.11 apiece, of which Zhaojin International Gold acquired, through a wholly owned unit, 14.2-million shares, representing 19.99% of the company's issued and outstanding shares. Proceeds are expected to be used to fund its 2026 exploration programs on its mineral prospects in Fiji, as well as for general working capital needs.The company and Zhaojin also entered into an investor rights agreement, whereby, subject to certain conditions, including time and ownership thresholds, Zhaojin will have certain rights, including the right initially to appoint one director of the company, and following Jan. 1, 2027, such right will increase to two directors. Zhaojin will also have the right to select a Vice President Exploration to be appointed by the company, provided such appointment is determined within one month following closing.Zhaojin will also have a right to participate in future equity financings to maintain its ownership in the company. Pursuant to the investor rights agreement, Zhaojin has agreed that, for a two-year period, it will not take certain actions without the company's prior written consent.Shares of the company were last seen down $0.015 at $0.13 on the TSX Venture Exchange.Price: $0.13, Change: $-0.02, Percent Change: -10.34%
$AWE.V
