Thunder Mountain Gold, Inc. reported that the company has signed a non-binding letter of intent to acquire Green River Energy Corp., a private oil and gas company based in the United States. The company is participating in the deal with the Hess Group, the largest principal shareholder of the target company.
Green River Energy owns a working interest in 100,000 acres of producing oil and gas leases in the Monument Butte oil field located in the Uinta Basin in Utah. The company also owns 4,000 acres of leases in other producing basins in the United States.
Thunder Mountain Gold will conduct a private placement offering of shares in the company to raise up to one million dollars to finance the deal. The shares will be sold to accredited European institutional investors.
Thunder Mountain Gold plans to change the company’s name to Thunder Mountain Resources, Inc. after the acquisition closes, and current management will run the combined company.
Thunder Mountain Gold will also raise an additional $500,000 in a separate private placement offering to fund ongoing operations of the company. These include exploration activities at the Iron Creek and Trout Creek Projects.
For more information on the company, go to www.thundermountaingold.com
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