April 14, 2015 – Vancouver, British Columbia – Thunderstruck Resources Ltd. (“Thunderstruck”; TSX-V: AWE) announces that it has granted an aggregate of 120,000 options to a director, each option being exercisable into one common shares at a price of $0.10 per share for a period of five years. 40,000 of the options shall vest immediately and the balance in equal monthly installments over the remainder of the calendar year.
In addition, in order to preserve the Company’s cash on hand, the Company has entered into consulting agreements with each of its directors providing that, at the discretion of such director, the director may convert up to $2,500 of their consulting fees per month into common shares of the Company. Any conversion thereunder shall be made quarterly based on the price of the Company’s common shares at the time such fee is due, and in any event not less than $0.10 per share. The consulting agreements became effective as at January 1, 2015. As such agreements involve the Company’s directors and the potential issuance of securities of the Company, the consulting agreements constitute a ‘related party transaction’ within the meaning of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions. The consulting agreements were each approved by the Company’s disinterested directors and have been determined to be exempt from the requirements to obtain a formal valuation or minority shareholder approval.
The Company has also entered into a consulting agreement with a third party consultant to provide in-country exploration management services for the Company’s projects. Should such consultant’s fees exceed $3,500 in any month, the Company has the right to elect to pay up to 50% of such fee through the issuance of common shares, based on the price of the Company’s common shares at the time such fee is due, and in any event not less than $0.10 per share.
About Thunderstruck Resources
Thunderstruck Resources is a Canadian mining exploration company with highly prospective VMS and Precious Metals projects in Fiji and Canada. The Company provides investors with exposure to a diverse portfolio of assets rich in copper, zinc, silver and gold in politically safe and stable jurisdictions. Thunderstruck trades on the Toronto Venture Exchange (TSX-V) under the symbol “AWE”.
For additional information, please contact:
Bryce Bradley, President, Chief Executive Officer and Director
Telephone: (604) 349-8119
or, visit our website: http://www.thunderstruck.ca
Neither the TSX Venture Exchange Inc. 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.
This news release contains certain statements that may be deemed “forward-looking statements”. Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Specifically, there is no assurance the private placement will be closed on the terms set out above or at all or that) TSX Venture Exchange approval will be received. Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck’s management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.