TIDMTHX
RNS Number : 8395C
Thor Explorations Ltd
15 June 2023
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 Position Number of Number of shares
name options
------------------- ------------------------ ----------- -----------------
Segun Lawson CEO & President 5,500,000 5,500,000
Group Exploration
Alfred Gilman 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.
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Segun Lawson
------------------------------ --------------------------------------------
Reason for the notification
2.
----------------------------------------------------------------------------
a) Position / status CEO & President
------------------------------ --------------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ --------------------------------------------
Details of the issuer , emission allowance market participant,
3. auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Thor Explorations Ltd
------------------------------ --------------------------------------------
b) LEI 213800AXZ8468CQYVT76
------------------------------ --------------------------------------------
Details of the transaction(s): section to be repeated for
4. (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 Common Shares of no par value
financial instrument,
type of instrument
Identification Code
------------------------------ --------------------------------------------
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 Price(s) Volume(s)
* Aggregated volume 14.5 cents 5,500,000
----------
* Price
------------------------------ --------------------------------------------
e) Date of the transaction June 13, 2023
------------------------------ --------------------------------------------
f) Place of the transaction outside a trading venue
------------------------------ --------------------------------------------
Details of the transaction(s): section to be repeated for
4. (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 Common Shares of no par value
financial instrument,
type of instrument
Identification Code
------------------------------ --------------------------------------------
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 Price(s) Volume(s)
* Aggregated volume 29 cents 6,600,690
----------
* Price
------------------------------ --------------------------------------------
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 Initial notification
/ amendment
------------------------------ ------------------------------------------
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 Common Shares of no par value
financial instrument,
type of instrument
Identification Code
------------------------------ ------------------------------------------
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 Price(s) Volume(s)
* Aggregated volume 14.5 cents 500,000
----------
* Price
------------------------------ ------------------------------------------
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 Initial notification
/ amendment
------------------------------ ------------------------------------------
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 Common Shares of no par value
financial instrument,
type of instrument
Identification Code
------------------------------ ------------------------------------------
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 Price(s) Volume(s)
* Aggregated volume 14.5 cents 400,000
----------
* Price
------------------------------ ------------------------------------------
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 Initial notification
/ amendment
------------------------------ ------------------------------------------
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 Common Shares of no par value
financial instrument,
type of instrument
Identification Code
------------------------------ ------------------------------------------
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 Price(s) Volume(s)
* Aggregated volume 14.5 cents 1,500,000
----------
* Price
------------------------------ ------------------------------------------
e) Date of the transaction June 13, 2023
------------------------------ ------------------------------------------
f) Place of the transaction outside a trading venue
------------------------------ ------------------------------------------
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Julian Barnes
------------------------------ ------------------------------------------
Reason for the notification
2.
--------------------------------------------------------------------------
a) Position / status Non-Executive Director
------------------------------ ------------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ ------------------------------------------
Details of the issuer , emission allowance market participant,
3. auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Thor Explorations Ltd
------------------------------ ------------------------------------------
b) LEI 213800AXZ8468CQYVT76
------------------------------ ------------------------------------------
Details of the transaction(s): section to be repeated for
4. (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 Common Shares of no par value
financial instrument,
type of instrument
Identification Code
------------------------------ ------------------------------------------
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 Price(s) Volume(s)
* Aggregated volume 14.5 cents 1,500,000
----------
* Price
------------------------------ ------------------------------------------
e) Date of the transaction June 13, 2023
------------------------------ ------------------------------------------
f) Place of the transaction outside a trading venue
------------------------------ ------------------------------------------
Details of the transaction(s): section to be repeated for
4. (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 Common Shares of no par value
financial instrument,
type of instrument
Identification Code
------------------------------ ------------------------------------------
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 Price(s) Volume(s)
* Aggregated volume Nil 767,701
----------
* Price
------------------------------ ------------------------------------------
e) Date of the transaction June 13, 2023
------------------------------ ------------------------------------------
f) Place of the transaction outside a trading venue
------------------------------ ------------------------------------------
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Adrian Coates
------------------------------ ------------------------------------------
Reason for the notification
2.
--------------------------------------------------------------------------
a) Position / status Non-Executive Chairman
------------------------------ ------------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------ ------------------------------------------
Details of the issuer , emission allowance market participant,
3. auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Thor Explorations Ltd
------------------------------ ------------------------------------------
b) LEI 213800AXZ8468CQYVT76
------------------------------ ------------------------------------------
Details of the transaction(s): section to be repeated for
4. (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 Common Shares of no par value
financial instrument,
type of instrument
Identification Code
------------------------------ ------------------------------------------
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 Price(s) Volume(s)
* Aggregated volume 14.5 cents 1,211,000
----------
* Price
------------------------------ ------------------------------------------
e) Date of the transaction June 13, 2023
------------------------------ ------------------------------------------
f) Place of the transaction outside a trading venue
------------------------------ ------------------------------------------
Details of the transaction(s): section to be repeated for
4. (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 Common Shares of no par value
financial instrument,
type of instrument
Identification Code
------------------------------ ------------------------------------------
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 Price(s) Volume(s)
* Aggregated volume Nil 450,838
----------
* Price
------------------------------ ------------------------------------------
e) Date of the transaction June 13, 2023
------------------------------ ------------------------------------------
f) Place of the transaction outside a trading venue
------------------------------ ------------------------------------------
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END
DSHGZGMVRKRGFZG
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June 15, 2023 04:12 ET (08:12 GMT)
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