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Great Thunder Gold announces $2,600,000 private placement, Sprott increases investment

Jul 24, 2020

The news at Fenelon keeps building. Great Thunder Gold Corp. has announced a non-brokered private placement financing that includes gold-bull Eric Sprott. 

The Private Placement includes up to 600,000 Units to Mr. Eric Sprott, a strategic investor, and shareholder of the Company, as he increases his investment into Great Thunder.

Each Unit will consist of one common share and one-half of one warrant. Each full warrant will, in turn, entitle the holder to purchase an additional common share at a price of $0.85 for two years following the closing date. The net proceeds from the offering will be used to develop its properties in the Fenelon Gold Camp of Quebec and for general working capital purposes.

The Units will be subject to a hold period of four months following the closing date, except as permitted by applicable securities legislation and the Canadian Securities Exchange. The Private Placement is subject to the approval of the Canadian Securities Exchange.

The participation of Great Thunder Gold's officers and directors, and other related parties in the Private Placement 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.

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