Thunder River Enterprises Announces Completion of Unit and Convertible Debenture Personal Placements, Completion of Credit card debt Settlements, and Change of Management and Board of Administrators
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Toronto, Ontario, Jun 07, 2021 (Newsfile Corp through COMTEX) —
Toronto, Ontario–(Newsfile Corp. – June 7, 2021) – Thunder River Enterprises Inc. (“Thunder River” or the “Organization“) is delighted to announce that it done a non-brokered private placement supplying (the “DeviceProviding“) of 30,000,000 models (“Units“) at a purchase value of $.01 for each Unit, for aggregate gross proceeds of up to $300,000. Each and every Device is made up of 1 common share (“Frequent Share“) and one 50 percent of 1 warrant (a “Warrant“). Every single entire Warrant is exercisable to purchase one Prevalent Share at a price of $.015 until June 7, 2023.
The Corporation is also delighted to announce that it closed a personal placement of secured convertible debentures (each a “Debenture“) for gross proceeds of $80,000 (the “Debenture Presenting“). The Debentures bear desire at a amount of 10{14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3} per annum and have a term of 24 months from the day of issue and are convertible in Units at a conversion value of $.01 for each Device. Every single Device has the exact same phrases as the Device Giving. Internet proceeds of the Unit Supplying and Debenture Providing will be employed for basic company and functioning capital functions. All securities issued pursuant to the Unit Offering and Debenture Giving are issue to a statutory keep time period ending October 8, 2021.
Thunder River is also happy to announce that it is has completed financial debt settlements with Household Memorial Inc. (“Household Memorial“) and Morris McManus Skilled Corporation (“McManus“) in regard of an mixture of $99,354 (collectively, the “Debt Settlements“). Relatives Memorials has agreed to forgive an combination of $60,254 and settle the harmony of $20,000 by way of issuance of 2,000,000 Units. McManus has agreed to a funds payment of $9,600 and settle the stability of $9,500 by way of issuance of 950,000 Units. The Units issued pursuant to the Credit card debt Settlements have the similar phrases as less than the Offering and are matter to a statutory keep period of time ending October 4, 2021. The participation by Family Memorial in the Debt Settlements constitutes a “relevant social gathering transaction” as this kind of time period is outlined by Multilateral Instrument 61-101 – Defense of Minority Safety Holders in Particular Transactions (“MI 61-101“) less than relevant securities guidelines. Beneath MI 61-101, the Firm is relying on an exemption from the official valuation need and the minority approval of the shareholders for the Credit card debt Settlement. The participation by Family members Memorial in the Credit card debt Settlements was accepted by administrators of the Organization who are unbiased of the associated get together for purposes of Debt Settlement.
At last, the Organization announces that on completion of the Giving, the current directors and officers resigned, and the pursuing people were being appointed as directors and officers of the Company:
Michael Stein, Chief Govt Officer and a Director
Mr. Stein currently acts as a money expert and advises clients on various matters, like acquisitions, divestitures, company financings, re-organizations and restructurings. Mr. Stein is Main Govt Officer and a director of Loon Electrical power Corporation. Mr. Stein was earlier Main Govt Officer and director of Danbel Ventures Inc., Utilized Innovations Management Inc. and Majesta Minerals Inc. Director, U.S. Revenue Marketplaces for a federally chartered Canadian Trust Company and prior thereto a Senior Institutional Money Banker for a Financial savings & Mortgage Association in Extended Beach, California. Mr. Stein majored in economics and graduated with a Bachelor of Arts from York College.
Harvey McKenzie, Main Economic Officer and a Director
Mr. Harvey McKenzie is a CPA, CA (Lifetime MEMBER) with extra than 35 years’ accounting practical experience, like 7 years with an global general public accounting company. He is now the CFO and Corporate Secretary of Omai Gold Mines Corp., CFO and Director of Debut Diamonds Inc., and a Director of MGM Methods Corp., Jaguar Economical Corporation, Canada Iron Inc., Eagle 1 Capital Corporation, Guyana Frontier Mining Corp., and Loon Power Company. For the duration of the past ten yrs, Mr. McKenzie has served as CFO of many Canadian publicly listed exploration, advancement and creating mining providers. His public-business experience contains the TSX, TSXV and Intention, supplying him a strong grasp of worldwide reporting requirements, IFRS and consolidation of reporting for worldwide entities. Mr. McKenzie holds a Bachelor of Science diploma in Arithmetic from the University of Toronto.
Barry Polisuk, Director
Mr. Polisuk is a graduate of McGill College and College of Ottawa Law Faculties, acquiring attained an LL.B. cum laude and a Quebec Civil Law Degree. Mr. Polisuk was identified as to the bar in 1988. Mr. Polisuk is Senior Counsel with Friedmans LLP and was formerly a spouse with Garfinkle, Biderman LLP due to the fact 1997. Mr. Polisuk is a company and commercial attorney, focused on financings, company and commercial get the job done, which includes securities. He has served on the boards of a number of publicly traded companies together with, Majesta Minerals Inc., Richards Oil & Fuel Constrained, Arehada Mining Constrained (formerly Dragon Cash Corporation) and iSign Media Alternatives Inc. (previously Corbal Funds Corp.). He has served as the Corporate Secretary of Mooncor Oil & Gas Corp. and of Reliable Gold Assets Corp. and President of Danbel Ventures Inc. Mr. Polisuk is currently a director and Company Secretary of Nurcapital Company Ltd., a director and Chairman of Canntab Therapeutics Ltd. and a director of Loon Vitality Company.
Danny Dalla-Longa, Director
Mr. Dalla-Longa is at present CEO of Flurotech Ltd., a know-how enterprise which is presently concerned in the development of a large velocity, verifiable, exact Covid 19 tests know-how. He has been concerned in the brokerage field for 5 decades and prior to that was a husband or wife for 18 a long time in a big accounting company practising in the place of corporate finance and small business valuations. Therefore he has considerable expertise in acquisitions, divestitures and company financings. Mr. Dalla-Longa retains the designations of Chartered Public Accountant as perfectly as Chartered Enterprise Valuator.
About Thunder River
Thunder River was incorporated less than the Small business Companies Act (British Columbia) and has by no means carried on an energetic business enterprise other than the identification and analysis of property or businesses with a check out to completing a transaction.
For further information get in touch with:
Thunder River Enterprises Inc.
Focus: Michael Stein, Chief Govt Officer
Cellular phone: (416) 410-7722
E-mail: [email protected]
To look at the resource version of this press release, make sure you visit https://www.newsfilecorp.com/launch/86813
COMTEX_387958792/2523/2021-06-07T18:20:51
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