NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario, September 19, 2022 – Blue Thunder Mining Inc. (TSXV: BLUE, OTCQB:BLTMF) (“Blue Thunder” or the “Company”) is pleased to announce that, subject to final approval of the TSX Venture Exchange, it has successfully closed the previously announced non-brokered private placement (the “Offering”) (see Press Releases dated July 4, 2022, July 11, 2022and August 18, 2022, and issued 33,333,333 Units for total gross proceeds of $500,000.
Each Unit consists of one Common Share of the Company and one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share of the Company at a price of C$0.05 for a period of 3 years following the closing date of the Offering. Each Warrant is subject to an acceleration clause under certain conditions.
Chad Williams, Non-Executive Chairman and Director added, “We are very pleased to have completed this financing in the face of these challenging markets. It will provide the funding to pursue our strategic plans involving the Muus project as significant M&A activity takes place around us. It will also provide the latitude to move forward on opportunities that present exciting avenues for growth.”
The securities issued under this Offering are subject to a hold period of four months and one day from the date of issue. The proceeds of the financing will be used for general working capital purposes and certain project expenditures.
The participation by insiders of the Company in the Financing constitutes a “related party transaction” pursuant to Multilateral Instrument 61-101 “Protection of Minority Security Holders in Special Transactions” [email protected] (“MI 61-101”). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in section 5.5(b) and Section 5.7(1)(b),respectively, on the basis that the fair market value of the securities issued to Insiders pursuant to the Financing, does not exceed $2,500,000, along with the other applicable circumstances contained in section 5.7(1)(b) of MI 61-101.
About Blue Thunder
Blue Thunder (TSXV: BLUE, OTCQB: BLTMF) is a gold exploration company that controls 100% of one of the largest land positions near the Chapais-Chibougamau gold district of Quebec (the “District”) with significant historical production and major recent discoveries. The Muus Project is situated on the two major regional trends hosting IAMGOLD’s Nelligan and Northern Superior Resources Lac Surprise to the south and IAMGOLD’s Monster Lake to the north with excellent highway and road access. The Project covers approximately 51,000 hectares (the “Property”) in five separate blocks of prospective ground in the eastern part of the Abitibi Greenstone Belt. The Project is considered particularly prospective for gold mineralization, as a series of prominent ductile and brittle fault-sets transect the Property, including the Guercheville and Fancamp deformation zones, both of which are associated with numerous past and currently producing precious and base metal mines in the District.
ON BEHALF OF THE BOARD
Non-Executive Chairman and Director
Blue Thunder Mining Inc.
401 Bay Street, Suite 2704,
P.O. Box 4, Toronto, Ontario, M5H 2Y4
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. 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. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
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, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the 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, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, 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 Chibougamau District in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits, and the results of any mining thereof, on adjacent or similar properties, are not indicative of mineral deposits on the Company’s properties or any potential exploration thereof.