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

Thor ExplorationsAnnouncement

15/06/2023 09:15

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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 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 (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 / 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
(mailto: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  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  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
 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 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

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  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  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

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  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  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

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  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  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

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  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  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
 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 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

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  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  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
 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 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

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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