11:38 AM EDT, 05/20/2025 (MT Newswires) -- Thunder Mountain Gold ( THMG ) on Tuesday said it completed a non-brokered private placement on May 16, raising US$1.2 million through the sale of 10-million units at US$0.12 each.

Each unit was made up of a share and one-half of a two-year warrant to buy a second share for US$0.18.

The company said the securities were sold exclusively to accredited investors, and that no placement or brokerage fees were incurred.

The company intends to use the proceeds from the private placement to fund exploration at the South Mountain Project in Idaho and the Trout Creek Project in Nevada, and for general working capital.

"We appreciate the continued support from our investors, which reflects confidence in the potential of the South Mountain Project," said Thunder Mountain Gold's ( THMG ) Chief Executive officer Eric Jones. "This funding will provide further resources required to move forward with critical development initiatives and continue adding value for our shareholders."

The company's shares were last seen down $0.03 to $0.21 on the TSX Venture Exchange.

Price: 0.21, Change: -0.03, Percent Change: -12.50