RNS Number : 8395C
Thor Explorations Ltd
15 June 2023
 

THOR_EXPLORATIONS_FULLCLRLOGO_onwhite 

 

 

 

 


NEWS RELEASE

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. WIRE SERVICES

 

Thor Explorations Ltd / TSXV & AIM: THX / Sector: Mining

 

FOR IMMEDIATE RELEASE                                                                                   TSXV/AIM: THX

June 15, 2023                                                                                                                                 

 

Vancouver, British Columbia

                                                                                                                                                     

EXERCISE OF SHARE OPTIONS AND DIRECTOR DEALINGS

 

Thor Explorations Ltd. (TSXV/AIM: THX) ("Thor Explorations" or the "Company") announces the exercise of share options ("Options") for a total of 7,900,000 common shares without par value at a price of 14.5 Canadian Dollar cents per common share in the share capital of the Company. The Options have been exercised by Directors and Persons Discharging Managerial Responsibilities ("PDMR") per the table below, for an aggregate consideration of C$1,145,500.

 

In addition to the 7,900,000 common shares issued for cash, 1,218,539 common shares were issued to Directors of the Company following the exercise of 2,711,000 share options at 14.5 cents each on a net settlement basis as permitted under the Rules of the Company's Omnibus Equity Incentive Plan 2022.

 

Application has been made for 9,118,539 shares (the "New Shares") to be admitted to trading on AIM ("Admission") on June 20, 2023. The New Shares will also trade on the TSX Venture Exchange and rank pari passu to existing shares.

 

Following the Admission, Thor Explorations' issued share capital will consist of 654,351,952 common shares and the Directors and PDMRs will hold a 12.40% interest in the Company. The Company does not hold any shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

 

Details of Director or PDMR exercising options:

 

Director or PDMR name

Position

Number of options

Number of shares

Segun Lawson

CEO & President

5,500,000

5,500,000

Alfred Gilman

Group Exploration Manager

500,000

500,000

Rebus Financial Consulting Ltd*

-

400,000

400,000

Adrian Coates

Non-Executive Chairman

1,211,000

450,838

Kayode Aderinokun

Non-Executive Director

1,500,000

1,500,000

Julian Barnes

Non-Executive Director

1,500,000

767,701

TOTAL


10,611,000

9,118,539

*Mr James Philip, COO is the beneficial owner of Rebus Financial Consulting Ltd.

 

In addition to the above option exercise, Mr. Segun Lawson, CEO, acquired an additional 6,600,690 common shares via an off-market transaction.

 

Following these transactions the following Directors will hold in excess of a 3% interest in Common Shares in the Company :

 

Director or PDMR name

Number Common Shares

% interest

Segun Lawson

29,117,545

4.45

Kayode Aderinokun

21,203,007

3.24

Folorunso Adeoye

21,349,721

3.26

 

 

About Thor Explorations

 

Thor Explorations Ltd. is a mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor Explorations holds a 100% interest in the Segilola Gold Project located in Osun State of Nigeria and has a 70% economic interest in the Douta Gold Project located in south-eastern Senegal. Thor Explorations trades on AIM and the TSX Venture Exchange under the symbol "THX".

 

For further information please contact:

 

Thor Explorations Ltd

Email: info@thorexpl.com

 

Canaccord Genuity (Nominated Adviser & Broker)

Henry Fitzgerald-O'Connor / James Asensio / Thomas Diehl

 

Tel: +44 (0) 20 7523 8000

 

Hannam & Partners (Broker)

Andrew Chubb / Matt Hasson / Jay Ashfield / Franck Nganou

 

Tel: +44 (0) 20 7907 8500

 

Fig House Communications (Investor Relations)

Tel: +1 416 822 6483

Email: investor.relations@thorexpl.com

 

Ibu Lawson (Investor Relations)

Tel: +447909825446

Email: ibu.lawson@thorexpl.com

 

BlytheRay (Financial PR)                                      

Tim Blythe / Megan Ray / Said Izagaren

Tel: +44 207 138 3203

 

Neither 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.

 

This press release does not constitute an offer to purchase securities. The securities to be offered in the offering have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to, or for the benefit or account of, a U.S. person, except pursuant to an available exemption from such registration requirements.

 

The following disclosures are made in accordance with Article 19 of the UK Market Abuse Regulation 596/2014 as it forms part of UK law.

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Segun Lawson

2.

Reason for the notification      

a)

Position / status

CEO & President

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer , emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Thor Explorations Ltd

b)

LEI

213800AXZ8468CQYVT76

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification Code

Common Shares of no par value



b)

Nature of the transaction(s)

Acquisition of common shares via exercise of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

14.5 cents

5,500,000

d)

Aggregated information

-  Aggregated volume

-  Price

 

Price(s)

Volume(s)

14.5 cents

5,500,000

e)

Date of the transaction

June 13, 2023

f)

Place of the transaction

outside a trading venue 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification Code

Common Shares of no par value



b)

Nature of the transaction(s)

Acquisition of common shares via off-market transaction

c)

Price(s) and volume(s)

Price(s)

Volume(s)

29 cents

6,600,690

d)

Aggregated information

-  Aggregated volume

-  Price

 

Price(s)

Volume(s)

29 cents

6,600,690

e)

Date of the transaction

June 13, 2023

f)

Place of the transaction

outside a trading venue 

 

 

 

 

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Alfred Gilman

2.

Reason for the notification      

a)

Position / status

Group Exploration Manager

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer , emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Thor Explorations Ltd

b)

LEI

213800AXZ8468CQYVT76

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification Code

Common Shares of no par value



b)

Nature of the transaction(s)

Acquisition of common shares via exercise of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

14.5 cents

500,000

d)

Aggregated information

-  Aggregated volume

-  Price

 

Price(s)

Volume(s)

14.5 cents

500,000

e)

Date of the transaction

July 13, 2023

f)

Place of the transaction

outside a trading venue 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Philip

2.

Reason for the notification      

a)

Position / status

Chief Operations Officer

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer , emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Thor Explorations Ltd

b)

LEI

213800AXZ8468CQYVT76

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification Code

Common Shares of no par value



b)

Nature of the transaction(s)

Acquisition of common shares via exercise of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

14.5 cents

400,000

d)

Aggregated information

-  Aggregated volume

-  Price

 

Price(s)

Volume(s)

14.5 cents

400,000

e)

Date of the transaction

June 13, 2023

f)

Place of the transaction

outside a trading venue 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Kayode Aderinokun

2.

Reason for the notification      

a)

Position / status

Non-Executive Director

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer , emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Thor Explorations Ltd

b)

LEI

213800AXZ8468CQYVT76

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification Code

Common Shares of no par value



b)

Nature of the transaction(s)

Acquisition of common shares via exercise of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

14.5 cents

1,500,000

d)

Aggregated information

-  Aggregated volume

-  Price

 

Price(s)

Volume(s)

14.5 cents

1,500,000

e)

Date of the transaction

June 13, 2023

f)

Place of the transaction

outside a trading venue 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Julian Barnes

2.

Reason for the notification      

a)

Position / status

Non-Executive Director

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer , emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Thor Explorations Ltd

b)

LEI

213800AXZ8468CQYVT76

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification Code

Common Shares of no par value



b)

Nature of the transaction(s)

Acquisition of common shares via exercise of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

14.5 cents

1,500,000

d)

Aggregated information

-  Aggregated volume

-  Price

 

Price(s)

Volume(s)

14.5 cents

1,500,000

e)

Date of the transaction

June 13, 2023

f)

Place of the transaction

outside a trading venue 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification Code

Common Shares of no par value



b)

Nature of the transaction(s)

Acquisition of common shares via exercise of options and net settlement

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

767,701

d)

Aggregated information

-  Aggregated volume

-  Price

 

Price(s)

Volume(s)

Nil

767,701

e)

Date of the transaction

June 13, 2023

f)

Place of the transaction

outside a trading venue 

 

 

 

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Adrian Coates

2.

Reason for the notification      

a)

Position / status

Non-Executive Chairman

b)

Initial notification / amendment

Initial notification

3.

Details of the issuer , emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Thor Explorations Ltd

b)

LEI

213800AXZ8468CQYVT76

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification Code

Common Shares of no par value



b)

Nature of the transaction(s)

Acquisition of common shares via exercise of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

14.5 cents

1,211,000

d)

Aggregated information

-  Aggregated volume

-  Price

 

Price(s)

Volume(s)

14.5 cents

1,211,000

e)

Date of the transaction

June 13, 2023

f)

Place of the transaction

outside a trading venue 

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification Code

Common Shares of no par value



b)

Nature of the transaction(s)

Acquisition of common shares via exercise of options and net settlement

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

450,838

d)

Aggregated information

-  Aggregated volume

-  Price

 

Price(s)

Volume(s)

Nil

450,838

e)

Date of the transaction

June 13, 2023

f)

Place of the transaction

outside a trading venue 

 

 

 

 

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