pcNewsWire – Thor Explorations Ltd. (TSX-V: THX) has clsoed first tranche of previously announced private placement, issuing 12,666,134 common shares at $0.15 per common share for gross proceeds of $1,899,920.
Proceeds will be used for exploration activities and working capital purposes.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
FOR IMMEDIATE RELEASE TSXV: THX
May 19, 2017 Shares Outstanding: 297,859,137
Vancouver, British Columbia
Closing of first tranche of Financing
The Company is pleased to announce the closing of a first tranche of financing in respect of this private placement as announced on May 12, 2017. The Company issued 12,666,134
Common Shares at a price of $0.15 per Common Share, raising gross proceeds of $1,899,920. The Company also paid finder’s fees in respect of the first tranche of $85,496 to
a third party finder.
The Common Shares issued pursuant to the first tranche of the private placement are subject to a 4- month hold period in Canada expiring September 20, 2017.
The net proceeds raised pursuant to the private placement will be used for exploration activities and working capital purposes.
Thor Explorations Ltd. is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. Thor holds a 100% interest in the Segilola Gold Project in Osun State Nigeria approximately 120km northeast of Lagos. The Company believes the Segilola Gold Project is one of the most advanced exploration gold projects in Nigeria. Thor holds a 70% interest in the Douta Gold Project located in southeastern Senegal. The Douta Gold Project lies within the Kéniéba Inlier which hosts significant gold resources and has attracted major international mining companies. Thor also holds a 49% interest in the Bongui and Legue gold permits located in Houndé greenstone belt, south west Burkina Faso. Thor trades on the TSX Venture Exchange under the symbol “THX”.
THOR EXPLORATIONS LTD.
Per: “Segun Lawson”
President & CEO
For further information please contact:
Tel: +44 07932 420 902
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.
Source: Thor Explorations Ltd.