Yesterday’s Private Placement Announcement Has Shares Soaring Today

Yesterday’s news of a non-brokered private placement is sending shares of this junior miner soaring today. A non-brokered private placement is a way to raise financing without an underwriting or agency agreement and no commitment for compensation for the placement of securities of an issuer.

Thunder Gold Corp (TSXV: TGOL) (OTCQB: TGOLF), formerly White Metal Resources Corp, announced in a press release yesterday that it intends to complete a non-brokered private placement to raise gross proceeds of up to approximately $1,000,000  through the sale of up to 33,333,333 units at a price of $0.03 per unit. 

Subject to TSXV approval, the financing is expected to close around the end of August. The intended use of the net proceeds will be for general working capital purposes and to advance Thunder’s 100 percent owned Tower Mountain gold property located in Ontario.

Canadian shares of Thunder Gold were up 40 percent in morning trade.

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