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

Thor ExplorationsAnnouncement

21/01/2025 07:00

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RNS Number : 0139U  Thor Explorations Ltd  21 January 2025

 

 

 

 

 

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 21,
2025

 

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 5,400,000
common shares without par value at a price of 20 Canadian cents per common
share in the share capital of the Company. The Options have been exercised by
Directors, Persons Discharging Managerial Responsibilities ("PDMR") and other
contractors per the table below, for an aggregate cash consideration of
C$1,080,000.

 

In addition to the 5,400,000 common shares issued for cash, 2,742,758 common
shares were issued to Directors and PDMRs of the Company at 20 Canadian 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 8,142,758 shares (the "New Shares") to be
admitted to trading on AIM ("Admission") on January 24, 2025. 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 664,244,710 common shares and the Directors and PDMRs will hold a 12.06%
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 exercised  Number of shares received
 Segun Lawson                     CEO & President            4,500,000                    2,501,360
 Rebus Financial Consulting Ltd*  -                          2,500,000                    1,894,352
 Adrian Coates                    Non-Executive Chairman     1,500,000                    356,930
 Kayode Aderinokun                Non-Executive Director     1,000,000                    1,000,000
 Collin Ellison                   Non-Executive Director     1,000,000                    1,000,000
 Julian Barnes                    Non-Executive Director     1,000,000                    394,352
 Alfred Gilman                    Group Exploration Manager  750,000                      295,764
 Other contractors                                           700,000                      700,000
 TOTAL                                                       12,950,000                   8,142,758

*Mr James Philip, COO 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
 Segun Lawson       31,618,905                         4.76%
 Folorunso Adeoye   22,349,721                         3.36%
 Kayode Aderinokun  22,203,007                         3.34%

 

 

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 / Harry Rees

 

Tel: +44 (0) 20 7523 8000

 

Hannam & Partners (Broker)

Andrew Chubb / Matt Hasson / Jay Ashfield / Franck Nganou

 

Tel: +44 (0) 20 7907 8500

 

Ibu Lawson (Investor Relations)

Tel: +447909825446

Email: ibu.lawson@thorexpl.com

 

BlytheRay (Financial
PR)

Tim Blythe / Megan Ray / Said Izagaren

Tel: +44 207 138 3204

 

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)

                                                                  (1)  Exercise of options (cash and stock settled)

Price(s)  Volume(s)
                                                                  20 cents  4,500,000

 

                                                                  (2)  Shares to be received

Price(s)  Volume(s)
                                                                  N/A       2,501,360

 

 d)  Aggregated information

     -  Aggregated volume                                         Option exercise as above

     -  Price
 e)  Date of the transaction                                      January 16, 2025
 f)  Place of the transaction                                     Outside a trading venue

 

(2)  Shares to be received

 Price(s)  Volume(s)
 N/A       2,501,360

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

Option exercise as above

e)

Date of the transaction

January 16, 2025

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Rebus Financial Consulting Ltd*
 2.  Reason for the notification
 a)  Position / status                                            *Mr James Philip, COO is the beneficial owner of Rebus Financial Consulting
                                                                  Ltd.
 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)

                                                                  (1)  Exercise of options (cash and stock settled)

Price(s)  Volume(s)
                                                                  20 cents  2,500,000

 

                                                                  (2)  Shares to be received

Price(s)  Volume(s)
                                                                  N/A       1,894,352

 

 d)  Aggregated information

     -  Aggregated volume                                         Option exercise as above

     -  Price
 e)  Date of the transaction                                      January 16, 2025
 f)  Place of the transaction                                     Outside a trading venue

 

(2)  Shares to be received

 Price(s)  Volume(s)
 N/A       1,894,352

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

Option exercise as above

e)

Date of the transaction

January 16, 2025

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 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)

                                                                  (1)  Exercise of options (cash and stock settled)

Price(s)  Volume(s)
                                                                  20 cents  1,500,000

 

                                                                  (2)  Shares to be received (net of tax liability)

Price(s)  Volume(s)
                                                                  N/A       356,930

 

 d)  Aggregated information                                        Option exercise as above

     -  Aggregated volume

     -  Price
 e)  Date of the transaction                                      January 16, 2025
 f)  Place of the transaction                                     Outside a trading venue

 

(2)  Shares to be received (net of tax liability)

 Price(s)  Volume(s)
 N/A       356,930

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

 Option exercise as above

e)

Date of the transaction

January 16, 2025

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)

                                                                  (1)  Exercise of options (cash settled)

Price(s)  Volume(s)
                                                                  20 cents  1,000,000

 

                                                                  (2)  Shares to be received

Price(s)  Volume(s)
                                                                  N/A       1,000,000

 

 d)  Aggregated information

     -  Aggregated volume                                         Option exercise as above

     -  Price
 e)  Date of the transaction                                      January 16, 2025
 f)  Place of the transaction                                     Outside a trading venue

 

(2)  Shares to be received

 Price(s)  Volume(s)
 N/A       1,000,000

 

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

Option exercise as above

e)

Date of the transaction

January 16, 2025

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Collin Ellison
 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)

                                                                  (1)  Exercise of options (cash settled)

Price(s)  Volume(s)
                                                                  20 cents  1,000,000

 

                                                                  (2)  Shares to be received

Price(s)  Volume(s)
                                                                  N/A       1,000,000

 

 d)  Aggregated information

     -  Aggregated volume                                         Option exercise as above

     -  Price
 e)  Date of the transaction                                      January 16, 2025
 f)  Place of the transaction                                     Outside a trading venue

 

(2)  Shares to be received

 Price(s)  Volume(s)
 N/A       1,000,000

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

Option exercise as above

e)

Date of the transaction

January 16, 2025

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)                                       (1)  Exercise of options (stock settled)

Price(s)  Volume(s)
                                                                  20 cents  1,000,000

 

                                                                  (2)  Shares to be received (net of tax liability)

Price(s)  Volume(s)
                                                                  N/A       394,352

 

 d)  Aggregated information

     -  Aggregated volume                                         Option exercise as above

     -  Price
 e)  Date of the transaction                                      January 16, 2025
 f)  Place of the transaction                                     Outside a trading venue

 

(2)  Shares to be received (net of tax liability)

 Price(s)  Volume(s)
 N/A       394,352

 

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

Option exercise as above

e)

Date of the transaction

January 16, 2025

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)

                                                                  (1)  Exercise of options (stock settled)

Price(s)  Volume(s)
                                                                  20 cents  750,000

 

                                                                  (2)  Shares to be received

Price(s)  Volume(s)
                                                                  N/A       295,764

 

 d)  Aggregated information

     -  Aggregated volume                                         Option exercise as above

     -  Price
 e)  Date of the transaction                                      January 16, 2025
 f)  Place of the transaction                                     Outside a trading venue

 

(2)  Shares to be received

 Price(s)  Volume(s)
 N/A       295,764

 

 

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

Option exercise as above

e)

Date of the transaction

January 16, 2025

f)

Place of the transaction

Outside a trading venue

 

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