Thunder Mountain closes $2.5M (U.S.) private placement

Executive Summary

• Thunder Mountain Gold Inc. has closed a non-brokered private placement raising $2.5 million USD in aggregate gross proceeds.
• The company issued 10 million units at a price of $0.25 USD per unit, with each unit comprising one common share and one-half of a common share purchase warrant.
• Proceeds are designated to fund near-term technical work at the South Mountain project, including drilling, metallurgy, resource, and mine planning studies, as well as general working capital.

Key Details

• Gross Proceeds: $2.5 million USD.
• Units Issued: 10,000,000 units.
• Price Per Unit: $0.25 USD.
• Warrant Terms: Each unit includes one-half of a common share purchase warrant. Each whole warrant is exercisable to purchase one common share at an exercise price of $0.40 USD.
• Warrant Expiration: October 24, 2027.
• Use of Proceeds: Advancing South Mountain technical work (drilling, metallurgy, resource and mine planning studies) and general working capital to reduce project risk and advance stepout exploration.
• Hold Period: Securities are subject to a statutory four-month hold period expiring February 24, 2026.
• Investor Type: Accredited investors.
• Regulatory Status: Conducted pursuant to exemptions from prospectus and registration requirements; final acceptance subject to TSX Venture Exchange approval.

Notable Quotes

• "This financing provides the capital needed to advance South Mountain. We appreciate the strong support from our investors, which underscores their confidence in our strategy, assets, management team and long-term vision." — Eric T. Jones, President and Chief Executive Officer