Thunder Mountain Gold, Inc. announced the successful completion of a non-brokered private placement, raising US$620,000. This was achieved through the sale of 12,400,000 units at a price of US$0.05 per unit. Each unit consisted of one common share and one warrant, with each warrant exercisable at US$0.10 for a three-year term.
The proceeds from this financing are allocated to fund exploration efforts at the South Mountain Project in Idaho and the Trout Creek Project in Nevada. Additionally, the capital will be used for general working capital and ongoing development activities at the South Mountain Project. This funding is intended to enhance the project's value and support administrative costs.
The securities issued in this private placement are subject to applicable exemptions under U.S. and Canadian securities laws. They are considered 'restricted securities' under the U.S. Securities Act and are subject to a six-month hold period, as well as a four-month hold period under Canadian securities laws.
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