VICTORIA, BC / ACCESSWIRE / February 28, 2020 / Great Thunder Gold Corp. (TSXV:GTG) is pleased to report the final closing of its previously announced non-brokered private placement. The Company has now completed the flow-through portion of the offering and issued 2,275,000 shares at a price of $0.44 per share to raise $1,001,000 of flow-through proceeds. Great Thunder completed the $750,000 non-flow-through portion of its financing on February 14.
The proceeds from the offering will be used for exploration of the Company's gold and lithium projects in Quebec.
"We are eager to begin work on Great Thunder's new Northbound Property located immediately to the northwest of the Fenelon Gold Project. We are also pleased to welcome Mr. Eric Sprott as a Great Thunder shareholder moving forward. Mr. Sprott's involvement as a 22.9% shareholder of Wallbridge Mining Company Limited, which owns the Fenelon Gold Project, speaks to the growing interest in this emerging Northern Abitibi Gold Camp," said Mr. Richard Macey, Great Thunder's President and Chief Executive Officer. "Great Thunder can now begin exploration on its exciting property on trend to Wallbridge's recently announced discovery 800 metres northwest of its already-promising Area 51 gold system."
The flow-through shares are subject to a hold period and may not be traded until June 29, 2020, except as permitted by applicable securities legislation and the TSX Venture Exchange.
ON BEHALF OF THE BOARD
Signed "Richard Macey"
President and Chief Executive Officer
Direct line: (604) 537-4174
Neither TSX Venture Exchange 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.
SOURCE: Great Thunder Gold Corp.