Exercise of Share Options and Director Dealings
Exercise of Share Options and Director
Dealings
Vancouver, British Columbia--(Newsfile Corp. - January 17, 2022) - Thor Explorations Ltd. (TSXV: THX)
(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:
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:
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
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)
12 cents
4,000,000
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
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)
12 cents
250,000
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
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)
12 cents
3,500,000
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
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)
12 cents
500,000
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
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)
12 cents
500,000
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
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)
12 cents
500,000