VANCOUVER - Thor Explorations Ltd. (TSXV/AIM: THX), a mining sector company, announced today that one of its directors, Mr. Folorunso Adeoye, has exercised options to acquire 1,000,000 common shares in the company. The transaction, conducted at a price of 20 Canadian cents per share, resulted in total consideration of C$200,000.
The new shares, which will rank equally with the existing shares, are expected to be admitted to trading on the AIM market on November 28, 2024, and will also be available for trading on the TSX Venture Exchange.
Following this exercise of options, the issued share capital of Thor Explorations will increase to 656,101,952 common shares. Mr. Adeoye's beneficial holding will subsequently represent 3.4% of the total issued share capital, amounting to 22,349,721 common shares.
Thor Explorations is a mineral exploration company focused on the acquisition, exploration, development, and production of mineral properties. The company's portfolio includes a 100% interest in the Segilola Gold Project in Nigeria and a 70% economic interest in the Douta Gold Project in Senegal.
This transaction is part of routine director dealings and reflects a financial commitment by a member of the company's leadership team. Shareholders may use the updated issued share capital figure as the denominator for calculations to determine if they need to notify their interest in, or a change to their interest in, the company.
The information regarding the exercise of share options and director dealings is based on a press release statement from Thor Explorations Ltd.
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