Business
Exercise of Share Options and Director Dealings
Vancouver, British Columbia--(Newsfile Corp. - June 14, 2023) - Thor Explorations Ltd. (TSXV: THX...
About this update from Thor Explorations Ltd.
[{"type":"text","content":"Exercise of Share Options and Director DealingsVancouver, 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 namePositionNumber of optionsNumber of sharesSegun LawsonCEO & President5,500,0005,500,000Alfred GilmanGroup Exploration Manager500,000500,000Rebus Financial Consulting Ltd*-400,000400,000Adrian CoatesNon-Executive Chairman1,211,000450,838Kayode AderinokunNon-Executive Director1,500,0001,500,000Julian BarnesNon-Executive Director1,500,000767,701TOTAL10,611,0009,118,539 *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 nameNumber Common ...