Thunderstruck Announces Strategic Investment by Australian Mining Entrepreneur

Thunderstruck Announces Strategic Investment by Australian Mining Entrepreneur

Thunderstruck Resources Ltd. (TSXV: AWE) ("Thunderstuck" or the "Company") is pleased to announce that Australian Businessman Ian Gandel has made a strategic investment into Thunderstruck Resources and looks to play an integral role in the company as it continues to advance its Fijian precious and base metal assets to bring value to shareholders.

"We are humbled to have attracted an investor with serial success such as Mr. Gandel. His investment confirms the view that Thunderstuck and Fiji are on the radar of some big players. The strategic relationship, whereby Mr. Gandel will attain a 25% stake in the Company post raising, is one that looks to benefit all shareholders going forward." Thunderstruck President and CEO Bryce Bradley commented. "Adding a proven company builder at this stage of the company's life cycle is invaluable. We look forward to Ian's active involvement as we continue to efficiently grow Thunderstruck through drilling, strategic partnerships and the addition of accretive Fijian land packages."

Mr. Gandel is a successful Melbourne based businessman with over 20 years experience in the exploration and mining sectors. Currently, Mr. Gandel is Independent Non-Executive Chairman of Alliance Resources Ltd (Gold & Iron Ore), Alkane Resources Ltd (Gold and Copper) and Australia Strategic Materials Ltd (Rare Earths and critical metals) and has helped grow them into market capitalizations of Aud $31 million, Aud $485 million and Aud $1.2 billion respectively.

Outside of the resource sector, Mr. Gandel has also been involved in the construction and real estate development of some of Australia's largest shopping centers and previously with the building of the well-known Australian Priceline retail drug store chain.

Ian Gandel, Chairman of Gandel Metals Pty Ltd, stated: "I am delighted to be involved with Thunderstruck, which I view as a highly prospective company. Fiji has an abundance of mineral potential and lies only a four hour flight from Sydney. Exploration success could result in a large uplift in shareholder value from the current low market capitalization, and importantly, would augment Fijian stakeholder value. We regard local community involvement and ESG values most highly. My team in Australia is looking forward to assisting the capable Thunderstruck geologists to unlock the potential of its projects in Fiji."

The Company is also pleased to announce that in addition to his investment, Mr. Gandel will join Thunderstruck's Advisory Board, along with his highly experienced colleague, Anthony (Tony) Lethlean.

"We welcome Tony Lethlean to the Thunderstruck family. Tony and Ian have worked extensively on projects together, and Tony's corporate and geological expertise has proven invaluable to the success of their projects. We too look forward to drawing upon his technical proficiency, as I am sure our land package has more hidden gems than we currently see." Bradley continued.

Mr. Lethlean is a seasoned geologist (BAppSc) having worked on the Golden Mile Kalgoorlie and many other global mining and development projects. He holds non-executive Directorships in both Alkane Resources Ltd and Alliance Resources Ltd. Prior to this, Mr. Lethean was a top mining analyst with Australian based investment banks including CIBC World Markets. He is currently a Director of Corporate Advisor Rawson Lewis.

Terms of Investment / Financing

Ian Gandel (together with his associates, "Gandel") will, directly and indirectly, enter into a subscription agreement (the "Subscription Agreement") for such number of units (the "Units") of the Company as represents approximately 25% of the issued and outstanding common shares of the Company following completion of the investment and concurrent private placement (the "Gandel Investment").

Including the Gandel Investment, the Company has arranged a non-brokered private placement for the sale of up to 35,714,285 million Units at a price of $0.07 per unit for aggregate gross proceeds of up to CDN$2,500,000. Each Unit will comprise one common share and one share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of $0.15 per share for a period of 5 years. The warrants are subject to accelerated exercise provisions such that if the closing price of the Company's common shares exceeds $0.30 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.

Proceeds of the placement will be applied to our 2022 exploration and drilling programs on the company's prospects and for general working capital.

The Offering remains subject to the approval of the TSX Venture Exchange, which in respect of the Gandel Investment will include the requirement for approval from 51% of the Company's shareholders for the creation of a control block in the Company to be held by Gandel. The Company currently anticipates it will seek such approval via written consent.

In connection with the strategic investment by Gandel, the Company and Gandel will enter into an investor rights agreement, whereby, subject to certain conditions, including time and ownership thresholds, Gandel will have certain rights, including the right to appoint one director of the Company.

In addition, Gandel will have a right to participate in future equity issuances to maintain his percentage ownership in the Company for up to 15 years. Additionally, for a period of two years (which the Company in its sole discretion can vary), Gandel will also agree not to (a) commence a take-over bid; (b) acquire the Company's shares, or direct or indirect rights to acquire any of the Company's shares; (c) make, or in any way participate in any solicitation of proxies to vote the Company's shares; (d) make any public announcement with respect to, or submit a proposal for, or offer of (with or without conditions) any business combination, amalgamation or merger or similar transaction involving the Company.

On completion of the Offering, a copy of the investor rights agreement will be available under the Company's SEDAR profile at www.sedar.com.

Stock Option Grant

The Company's board has granted an aggregate of 600,000 stock options in accordance with its stock option plan to various insiders, advisors, and consultants, with each option being exercisable into one common share at a price of 0.115 cents per share for a period of 10 years.

About Thunderstruck Resources

Thunderstruck Resources is a Canadian mineral exploration company that has assembled extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed zinc, copper and precious metals mineralization. The Company provides investors with exposure to a diverse portfolio of exploration stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol "AWE" and United States OTC under the symbol "THURF."

For additional information, please contact:
Rob Christl, VP Business Development and Investor Relations
Email: rob@thunderstruck.ca
P: 1-778 840-7180
or, visit our website: https://www.thunderstruck.ca

Neither the TSX Venture Exchange Inc. 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.

This news release contains certain statements that may be deemed "forward-looking statements". Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck's management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113774

News Provided by Newsfile via QuoteMedia

AWE:CA
The Conversation (0)
Thunderstruck Resources Reports That Drilling Has Commenced at the Liwa Gold & Silver Project

Thunderstruck Resources Reports That Drilling Has Commenced at the Liwa Gold & Silver Project

Thunderstruck Resources Ltd. (TSXV: AWE) ("Thunderstruck" or the "Company") is pleased to announce the recent commencement of the 2022 drill program in Fiji.

"The drill is turning!" said Bryce Bradley, President and CEO. "Nearly five decades after the discovery of these gold-silver targets, they are finally being drilled. We are excited that the team has successfully mobilized to Liwa with a custom made drill fit for Fiji's unique terrain, and we'll be working hard to complete the program and get assays to market."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Thunderstruck Awards Drilling Contract

Thunderstruck Awards Drilling Contract

Outlines Detailed, Drill-Ready Targets at Liwa

Thunderstruck Resources Ltd. (TSXV: AWE) ("Thunderstruck" or the "Company") is pleased to announce its intention to drill multiple high priority targets at its Liwa goldsilver prospect in Fiji. With the signing of a long-term drilling contract, drilling is set to commence in early Q3 2022. The company has outlined a seven-hole drill program designed to test the validity at depth of geophysical anomalies corresponding with surface mineralization.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Thunderstruck Announces Conclusion of Earn-In Agreement Return to 100% Ownership of Korokayiu Zinc/Copper Asset

Thunderstruck Announces Conclusion of Earn-In Agreement Return to 100% Ownership of Korokayiu Zinc/Copper Asset

Thunderstruck Resources Ltd. (TSXV: AWE) (The "Company") PresidentCEO Bryce Bradley announces the conclusion of Thunderstruck's earn-in agreement (the "Agreement") with Japan Oil, Gas and Metals National Corporation ("JOGMEC") on the Company's Korokayiu VMS prospect in Fiji.

Thunderstruck and JOGMEC announced on February 28, 2019 a joint venture agreement to explore Thunderstruck's Korokayiu base metals asset, with CDN$3.5 million in exploration expenditures by JOGMEC to earn 70% of the Company's zinc/copper prospect.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Thunderstruck Resources Ltd. Announces $2.5 Million Strategic Financing Closed

Thunderstruck Resources Ltd. Announces $2.5 Million Strategic Financing Closed

Thunderstruck Resources Ltd. (TSXV: AWE) (OTC: THURF) (the "Company") advises, further to its press release dated February 14, 2022, that it has closed its previously announced non-brokered private placement (the "Placement").

Gross proceeds of CAD$2,500,000 were raised through the sale of 35,714,285 units at a price of $0.07 per unit. Each unit comprised one common share and one share purchase warrant. Each whole warrant entitles the holder to purchase a further common share at a price of $0.15 per share for a period of five years. The warrants are subject to accelerated exercise provisions such that if the closing price of the Company's common shares exceeds $0.30 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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Thunderstruck Targets Large Mineralized System on Liwa / Rama / Nakoro Licenses; Appoints Nicol as Technical Director to Oversee Exploration

Thunderstruck Targets Large Mineralized System on Liwa / Rama / Nakoro Licenses; Appoints Nicol as Technical Director to Oversee Exploration

Thunderstruck Resources Ltd. (TSXV: AWE) (The "Company") is pleased to announce the following updates on its exploration projects in Fiji:

  • Preliminary results from Liwa indicate the presence of a large mineralized system interpreted to be the top of a porphyry copper-gold system.
  • Full assays from the 2021 exploration program are pending. Initial results are encouraging and demonstrate the presence of anomalous gold in the system.
  • The Company has appointed Dorian L. (Dusty) Nicol to Thunderstruck's Board of Directors and as Senior Exploration Manager, in which role he will oversee the Company's exploration programs.

Nicol Appointed to the Board to Oversee Exploration

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Silver Tiger Announces PFS With NPV of US$222M for the Stockwork Zone of the El Tigre Silver-Gold Project, Sonora, Mexico

Silver Tiger Announces PFS With NPV of US$222M for the Stockwork Zone of the El Tigre Silver-Gold Project, Sonora, Mexico

Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") is pleased to announce a Preliminary Feasibility Study(" PFS") for its 100% owned, silver-gold El Tigre Project (the "Project" or "El Tigre") located in Sonora, Mexico. The PFS is focused on the conventional open pit mining economics of the Stockwork Mineralization Zone defined in the updated Mineral Resource Estimate ("MRE") (Figure 1). The updated MRE also contains an Out-of-Pit Mineral Resource that Silver Tiger plans to study in a Preliminary Economic Assessment in H1-2025.

Highlights of the PFS are as follows (all figures in US dollars unless otherwise stated):

Keep reading...Show less
Eastern Metals

September 2024 Quarterly Activities Report

New targets identified at Browns Reef, the commencement of drilling, and co-funding grant awarded for IP survey at Arunta

Eastern Metals Limited (ASX: EMS) (“Eastern Metals” or “the Company”) is pleased to present its Quarterly Report for the period ending 30 September 2024.

Keep reading...Show less
Andean Silver

Spectacular High-Grade Hits Continue to Extend Mineralisation Outside Resource

Latest results to underpin the Resource update proposed for next quarter

Andean Silver Limited (ASX: ASL) is pleased to announce further spectacular drilling results which will form part of the next Resource update at its Cerro Bayo Silver-Gold Project in Chile.

Keep reading...Show less
Locksley Resources

46% Antimony (Sb) & 1,022 g/t Silver Assay Results at the Mojave Project

Locksley Resources Limited (ASX:LKY) (“Locksley” or “the Company”) is pleased to announce high-grade antimony grades up to 46% Sb from the recent rock chip sampling program. Eighteen (18) rock chips returned grades in excess of 1.4% Sb with eight (8) returning grades over 17% Sb. Since mid-2023, Locksley Resources has completed four surface sampling programs, mainly focused on detecting rare earth minerals at the Mojave Project, CA, located 45 minutes from Las Vegas. The most recent surface sampling program focused on the Desert Antimony Mine and potential for high-grade antimony mineralisation to be present along strike of the historically mined mineralised structures in an east-west and north-south direction. The sampling program revealed polymetallic mineralisation along strike of the mineralised structures suggesting a zoned reduced intrusive related system (RIRS).

Keep reading...Show less
Silver bar chart going up.

5 Silver Stocks With Dividends (Updated 2024)

Silver is a notoriously volatile metal capable of wide price swings in either direction.

However, the metal is also seen by many as a safe-haven investment and a hedge against inflation. While investing in silver bullion is one popular method for gaining exposure, silver-mining companies offer another route.

Silver-mining companies with strong balance sheets and experienced management teams are able to capitalize on high silver prices and weather the storm of low silver prices. Some of the most profitable silver-mining companies are even able to offer investors dividends, which may be appealing for those who are in it for the long haul.

Keep reading...Show less
Eastern Metals

Final Assay Results from Cobar Project Confirm Potential for Intrusion-Related Mineralisation

Copper anomalism confirmed at Windmill Dam, with IP survey planned to define key targets for follow-up drilling

Eastern Metals Limited (ASX: EMS) (“Eastern Metals” or “the Company”) is pleased to report final assay results from recent reconnaissance drilling at its 100%-owned Cobar Project in NSW.

Keep reading...Show less

Latest Press Releases

Related News

×