REG - Thor Explorations Ld - EXERCISE OF SHARE OPTIONS AND DIRECTOR DEALINGS

Thor ExplorationsAnnouncement

17/01/2022 07:05

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RNS Number : 5604Y  Thor Explorations Ltd  17 January 2022

 

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

January 17,
2022

 

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 9,539,000
common shares without par value at prices of 12 and 14.5 Canadian Dollar cents
per common share in the share capital of the Company ("New Shares"). The
Options have been exercised by Directors and Persons Discharging Managerial
Responsibilities ("PDMR") per the table below, for an aggregate consideration
of C$1,151,905. The New Shares will rank pari passu with the existing shares
and application has been made for the 9,539,000 New Shares to be admitted to
trading on AIM ("Admission") on 20 January 2022. The New Shares will also
trade on the TSX Venture Exchange.

 

Mr Adrian Coates, Non-Executive Chairman, had  previously exercised options
over 500,000 new Common Shares at a price of CAD$0.12 each in the Company as
announced on December 15, 2021.

 

Following the Admission, Thor Explorations' issued share capital will consist
of 641,897,009 common shares and the Directors and PDMRs will hold a 9.58%
interest in the Company. The Company does not hold any shares in treasury.
Shareholders may use 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 options  Exercise price
 Segun Lawson                     CEO & President          4,000,000       12 cents
 Ben Hodges                       Chief Financial Officer  250,000         12 cents
 Rebus Financial Consulting Ltd*  -                        3,500,000       12 cents
 Kayode Aderinokun                Non-Executive Director   500,000         12 cents
 Folorunso Adeoye                 Non-Executive Director   500,000         12 cents
 Julian Barnes                    Non-Executive Director   500,000         12 cents
 Adrian Coates                    Non-Executive Chairman   289,000         14.5 cents
 TOTAL                                                     9,539,000

*Mr James Philip, VP of Corporate Development is the beneficial owner of Rebus
Financial Consulting Ltd.

 

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
 Kayode Aderinokun  19,703,007                         3.07
 Folorunso Adeoye   19,849,721                         3.09

 

 

 

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 (mailto: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 / Nilesh Patel / Franck Nganou

 

Tel: +44 (0) 20 7907 8500

 

Fig House Communications (Investor Relations)

Tel: +1 416 822 6483

Email: investor.relations@thorexpl.com
(mailto:investor.relations@thorexpl.com)

 

 

 

Blytheweigh (Financial PR)

Tim Blythe / Megan Ray / Rachael Brooks

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.

 

 

 

 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  Common Shares of no par value

     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)
                                                                  12 cents  4,000,000

 
 d)  Aggregated information

Price(s)  Volume(s)
     -  Aggregated volume                                         12 cents  4,000,000

     -  Price
 
 e)  Date of the transaction                                      January 14, 2022
 f)  Place of the transaction                                     outside a trading venue

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

 Price(s)  Volume(s)
 12 cents  4,000,000

 

e)

Date of the transaction

January 14, 2022

f)

Place of the transaction

outside a trading venue

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Ben Hodges
 2.  Reason for the notification
 a)  Position / status                                            Chief Financial 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  Common Shares of no par value

     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)
                                                                  12 cents  250,000

 
 d)  Aggregated information

Price(s)  Volume(s)
     -  Aggregated volume                                         12 cents  250,000

     -  Price
 
 e)  Date of the transaction                                      January 14, 2022
 f)  Place of the transaction                                     outside a trading venue

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

 Price(s)  Volume(s)
 12 cents  250,000

 

e)

Date of the transaction

January 14, 2022

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                                            VP of Corporate Development
 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  Common Shares of no par value

     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)
                                                                  12 cents  3,500,000

 
 d)  Aggregated information

Price(s)  Volume(s)
     -  Aggregated volume                                         12 cents  3,500,000

     -  Price
 
 e)  Date of the transaction                                      January 14, 2022
 f)  Place of the transaction                                     outside a trading venue

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

 Price(s)  Volume(s)
 12 cents  3,500,000

 

e)

Date of the transaction

January 14, 2022

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  Common Shares of no par value

     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)
                                                                  12 cents  500,000

 
 d)  Aggregated information

Price(s)  Volume(s)
     -  Aggregated volume                                         12 cents  500,000

     -  Price
 
 e)  Date of the transaction                                      January 14, 2022
 f)  Place of the transaction                                     outside a trading venue

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

 Price(s)  Volume(s)
 12 cents  500,000

 

e)

Date of the transaction

January 14, 2022

f)

Place of the transaction

outside a trading venue

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Folorunso Adeoye
 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  Common Shares of no par value

     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)
                                                                  12 cents  500,000

 
 d)  Aggregated information

Price(s)  Volume(s)
     -  Aggregated volume                                         12 cents  500,000

     -  Price
 
 e)  Date of the transaction                                      January 14, 2022
 f)  Place of the transaction                                     outside a trading venue

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

 Price(s)  Volume(s)
 12 cents  500,000

 

e)

Date of the transaction

January 14, 2022

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  Common Shares of no par value

     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)
                                                                  12 cents  500,000

 
 d)  Aggregated information

Price(s)  Volume(s)
     -  Aggregated volume                                         12 cents  500,000

     -  Price
 
 e)  Date of the transaction                                      January 14, 2022
 f)  Place of the transaction                                     outside a trading venue

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

 Price(s)  Volume(s)
 12 cents  500,000

 

e)

Date of the transaction

January 14, 2022

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  Common Shares of no par value

     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  289,000

 
 d)  Aggregated information

Price(s)    Volume(s)
     -  Aggregated volume                                         14.5 cents  289,000

     -  Price
 
 e)  Date of the transaction                                      January 14, 2022
 f)  Place of the transaction                                     outside a trading venue

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

 Price(s)    Volume(s)
 14.5 cents  289,000

 

e)

Date of the transaction

January 14, 2022

f)

Place of the transaction

outside a trading venue

 

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