Thunder Mountain Gold closes $5.7M private placement

Thunder Mountain Gold, Inc. (TSXV: THM) (OTCQB: THMG) has closed a non-brokered private placement, raising gross proceeds of $5,663,316, according to a company statement.

The offering consisted of 8,090,451 units priced at $0.70 per unit. Each unit includes one common share and one-half of one common share purchase warrant, with each whole warrant exercisable at $1.00 per share for 24 months from issuance.

The company said proceeds will be directed toward advancing its South Mountain Project, covering drilling, assaying, geophysical surveys, and general administration costs associated with those programs.

In connection with the placement, Thunder Mountain paid aggregate cash finder's fees of $66,563 to four Canadian brokers and issued 94,089 non-transferable finder warrants, each exercisable at $1.00 per share for 24 months from issuance.

The placement remains subject to final approval from the TSX Venture Exchange.

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