This morning Great Thunder Gold (TSXV: GTG) announced a non-brokered private placement financing of up to 4,000,000 units (the “Unit”) at a price of $0.65 per Unit. The company informed shareholders that Eric Sprott will be increasing his position by upto 600,000 units. Based on insider filings, prior to the financing Sprott owned 4 million shares.
The private placement will be at 65c/share with a full 2 year warrant at 85c. 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 junior gold mining exploration company is focused on exploration and development along the Detour Gold trend in Quebec. They have land claims surrounding Wallbridge, Xander and Probe’s gold properties in the Fenelon area.
Great Thunder last traded up 7.1% to 87c at the time of publishing (9:34AM).
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SmallCapSteve started blogging in the Winter of 2009. During that time, he was able to spot many take over candidates and pick a variety of stocks that generated returns in excess of 200%. Today he consults with microcap companies helping them with capital markets strategy and focuses on industries including cannabis, tech, and junior mining.