As consideration for the private placement, the Company issued: 2,700,000 Units (the 'Units') at a price of
Each Unit shall consist of one common share of the Company (each, a 'Common Share') and one-half of one common share purchase warrant (each whole warrant, a 'Warrant'). Each Warrant will be exercisable by the holder to acquire one Common Share at a price of
'With the closing of our private placement financing, Blue Thunder is now in a strong position to advance our
Robert Cinits, President and CEO
Aggregate gross proceeds from the Offering was
Finders Fee Agreements
The Company has entered into an agreement (the 'Agreement') with
The entering into the Agreement is considered to be a related party transaction under Multilateral Instrument 61-101, but is exempted from the requirements to obtain a formal valuation and to obtain minority approval, as the consideration payable to the Finder under the Agreement does not exceed 25% of the Company's market capitalization. The independent directors of the Company have approved the Agreement. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101.
In addition, the Company has entered into agreements with certain arm's length parties to pay a fee for those purchasers under the Offering introduced to the Company. In aggregate the Company paid cash consideration of
The shares and warrants issued under this Offering are subject to a mandatory hold period of four months plus one day from the closing date, expiring on
About BLUE
Contact:
Tel: (647) 848-1009
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, anticipated exploration program results, the ability to complete the amount of the announced private placement, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. This news release contains information with respect to adjacent or similar mineral properties in the
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