Thunder Gold closes $1.25M financing to Advance Tower Mountain near Thunder Bay

Thunder Gold Corp. has announced the successful closing of its non-brokered private placement, raising $1.25 million through the issuance of 20,833,333 units priced at $0.06 per unit. The proceeds will be used to support general working capital and advance exploration at the company’s 100%-owned Tower Mountain Gold Property near Thunder Bay.
Each unit comprises one common share and one-half of a common share purchase warrant, with each whole warrant exercisable at $0.10 per share for 18 months from the closing date. In connection with the offering, Thunder Gold paid finder’s fees of $62,500 and issued 1,041,667 finder warrants, allowing eligible finders, including PowerOne Capital Markets Limited, to purchase units at $0.06 per unit for 18 months.
All securities issued under the offering, including finder warrants, are subject to a statutory hold period of four months plus one day, in accordance with TSXV policies and applicable securities laws. Final approval from the TSXV remains pending.
Tower Mountain Gold Property
Proceeds from the offering will primarily be used to advance the Tower Mountain Gold Property, located 50 kilometers west of Thunder Bay in the Shebandowan Greenstone Belt. Tower Mountain is a 2,500-hectare property surrounding the largest exposed intrusive complex in the eastern Shebandowan Greenstone Belt, where gold occurrences are typically associated with intrusive rocks.
Gold mineralization at Tower Mountain has been established over a 1,500-metre strike length, extending more than 500 metres from the surface along a 500-metre-wide corridor. Thunder Gold sees significant potential for further discovery, as the remaining 75% of the intrusive perimeter shows identical geology and geophysical responses.
Management and Future Plans
In addition to the financing, Thunder Gold’s Board of Directors approved the issuance of 3,750,000 options to directors and management. The options, exercisable at $0.10 for a 12-month term, aim to align management’s incentives with the company’s growth objectives.
“The Tower Mountain Gold Property offers a compelling exploration opportunity with its extensive mineralized corridor and favorable geological setting,” said Wes Hanson, President and CEO of Thunder Gold. “This financing strengthens our ability to continue unlocking the property’s potential while advancing our broader exploration strategy.”
Thunder Gold continues to position itself as a leader in the Shebandowan Greenstone Belt, with a focus on uncovering high-potential gold assets and delivering shareholder value.
By Kevin Vincent, Senior Contributing Editor to Mining Life Online and Mining Life & Exploration News
Tags: Northern Ontario / Deals & Financial / Gold / All Articles