Business
White Metal Announces Proposed Financings to Fund Exploration on the Gunners Cove Gold Project
Thunder Bay, Ontario--(Newsfile Corp. - September 5, 2018) - White Metal Resources Corp. (TSX...
About this update from Thunder Gold Corp.
[{"type":"text","content":"White Metal Announces Proposed Financings to Fund Exploration on the Gunners Cove Gold ProjectThunder Bay, Ontario--(Newsfile Corp. - September 5, 2018) - White Metal Resources Corp. (TSXV: WHM) (\"White Metal\" or the \"Company\") is pleased to announce two proposed non-brokered private placements of up to a combined maximum of $500,000 to fund exploration on its Gunners Cove Gold Property (the \"Property\") in Newfoundland and for working capital purposes. The offerings will consist of up to a combined maximum of 3,333,333 units of both Flow Through Units (\"FTUs\") at $0.15 per FTU and Non Fow Through Units (\"NFTUs\") at $0.15 per NFTU.Each FTU will consist of one common share and one-half (1/2) of one share purchase warrant. Each full warrant will entitle the holder to purchase an additional common share at $0.25 for two years from closing of the private placement. Each NFTU will consist of one common share and one (1) share purchase warrant. Each warrant will entitle the holder to purchase an additional common share at $0.25 for two years from the closing of the private placement.The flow through proceeds will be expended on the continued exploration of the Company's Gunners Cove Gold Project project located in Newfoundland. The non flow through proceeds will be used for working capital and general corporate purposes. The offerings are only open to accredited investors in Canada and will be subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the TSX Venture Exchange and other customary conditions. All of the securities sold pursuant to the offerings will be subject to a four-month plus one day hold period from the date of closing.Finder's fees may be payable on all or a portion of the private placements and will consist of 7% cash and 7% Broker's Warrants, where applicable. In respect of NFTU's, the Broker Warrant will be exercisable for $0.15 for a unit consisting of one common share and one (1) share purchase warrant exercisable at $0.25 for a period of two years from closing. In respect of FTU's, the Broker Warrant will be exercisable for $0.15 for a unit consisting of one common share of the Company and one half (1/2) of one share purchase warrant, each such whole warrant being exercisable at $0.25 for a period of two years from closing. No Broker Warrants or thei...