Thunderstruck Announces Brien Lundin as Chairman of the Board, Closes $400,000 Financing and Obtains Reserve Bank of Fiji Approval

Vancouver, British Columbia–(Newsfile Corp. – August 29, 2016) – Thunderstruck Resources Ltd. (TSXV:AWE) is pleased to announce that co-founding director and shareholder Brien Lundin has accepted the position as Chairman of the Board.
CEO Bryce Bradley comments, “Brien has been a strong supporter of Thunderstruck and the prospectivity of our high grade zinc, gold and copper assets in Fiji. As the President of the New Orleans Investment Conference, we’re honoured to have him serve as Chairman of the Board, and believe that his vast level of contacts in the mining exploration industry will assure us access to the highest quality of investors and potential JV partners.”
Thunderstruck also announces that, further to its press release dated August 8, 2016, it has closed its previously announced non-brokered private placement of Cdn$400,000 and has received the approval of the TSX Venture Exchange to complete the acquisition of 100% of Aljen (Pacific) Limited, the holder of the exploration licenses in Fiji. It has also been given approval by the Reserve Bank of Fiji, for the Company’s proposed Share Sale Agreement.
The non-brokered private placement involved the sale of 8,000,000 units at a price of $0.05 per unit for aggregate gross proceeds of Cdn$400,000. Each unit comprised one common share and one half of one share purchase warrant, each whole warrant entitling the holder to purchase a further common share at a price of $0.10 per share until August 25, 2019. The warrants are subject to accelerated exercise provisions such that if the closing price of the Company’s common shares exceeds $0.20 per share for a period of 20 consecutive trading days, the Company may give notice of the acceleration of the warrants’ term to a period of 30 days following such notice.
Subsequent to the signing of the Share Sale Agreement with Aljen Pacific on August 5^th, 2016, CEO Bryce Bradley is currently in Fiji to facilitate the necessary approvals with the Fijian regulatory authorities, namely the Minister of Mineral Resources, Reserve Bank of Fiji, Mineral Resources Department (MRD) and Investment Fiji. Discussions with MRD indicate that exploration licenses encompassing both the highly prospective Nakoro and Wainaleka prospects will be renewed until August 31, 2018. It is anticipated that the fieldwork will commence in mid-late September.
Proceeds of the placement will be applied to acquisition costs and exploration programs for the Company’s Fijian properties and general working capital. The securities issued in the placement are subject to a hold period in Canada expiring on December 26, 2016. Additional restrictions may apply pursuant to Rule 144 of the Securities Act of 1933, as amended, to U.S. investors.
Connect with Thunderstruck Resources Ltd. (TSXV:AWE) to receive an Investor Presentation.