Thunderstruck issues 3.1M shares for debt of $155,000

Executive Summary

• Thunderstruck Resources Ltd. settled $155,000 of unpaid salary owed to CEO Bryce Bradley by issuing 3.1 million common shares at a deemed price of $0.05 per share.
• The settlement is a related‑party transaction exempt from minority approval under MI 61‑101 because the fair market values involved are each below 25 % of market capitalization.
• Concurrently, the company granted 1.83 million stock options at an exercise price of $0.05 per share to directors, employees and consultants.

Key Details

• Debt Settlement: $155,000 unpaid salary (31‑month period) settled via issuance of 3.1 M common shares @ $0.05/share.
• Resale Restrictions: Shares subject to resale restrictions under Canadian securities legislation until 2026‑03‑27.
• Regulatory Exemption: Transaction exempt from minority approval and formal valuation requirements per MI 61‑101 subsections 5.5(a) & 5.7(1)(a).
• Stock Option Grants: 1.83 M options granted under the company’s stock option plan; each option exercisable for one common share at $0.05/share, with a five‑year term.
• Ownership Impact – CEO: Post‑settlement, Bryce Bradley holds 6,067,356 shares (10.73 % undiluted, 15.18 % partially diluted). Pre‑settlement holding was 2,967,356 shares (5.55 % undiluted, 10.28 % partially diluted).
• Early Warning Disclosure: An early warning report will be filed by Ms. Bradley with Canadian securities regulators; copies available on request via [email protected].

Notable Quotes

(No direct quotes provided in the release.)