Exercise of Share Options and Director Dealings
Exercise of Share Options and Director
Dealings
Vancouver, British Columbia--(Newsfile Corp. - June 14, 2023) - Thor Explorations Ltd. (TSXV: THX)
(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:
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:
Ibu Lawson (Investor Relations)
Tel: +447909825446
Email:
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
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)
14.5 cents
5,500,000
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
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)
14.5 cents
500,000
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
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)
14.5 cents
400,000
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
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)
14.5 cents
1,500,000
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
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)
14.5 cents
1,500,000
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
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)
14.5 cents
1,211,000
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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/170063