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Thor Announces Closing of Acquisition of Segilola Gold Project and Private Placement Financing
Thor Announces Closing of Acquisition of Segilola Gold Project and Private Placement Finan...
About this update from Thor Explorations Ltd.
[{"type":"text","content":"\n\n\n\nThor Announces Closing of Acquisition of Segilola Gold Project and Private Placement Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nThor Announces Closing of Acquisition of Segilola Gold Project and Private Placement Financing\nCanada NewsWire\nVANCOUVER, Aug. 19, 2016\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/\n\nShares Outstanding: 272,197,227TSXV: THX\n\n\n\nVANCOUVER, Aug. 19, 2016 /CNW/ - \n\nHighlights \n\nAcquisition\n\n\nTransformational Acquisition Complete - Thor has acquired 100% of Segilola Gold Project with an indicated mineral resource estimate of 555,000 ounces of gold at 3.8 g/t \nConsidered the most advanced gold project in Nigeria \nProject has significant exploration upside potential and near term production potential \nPrivate Placement of $4,647,864 closed (total raised for acquisition and working capital is $5,054,976 over last two private placements). \nInitial work program funded \n\nThor Explorations Ltd. (TSXV:THX) (\"Thor\" or the \"Company\") is pleased to announce the closing of the transactions contemplated in its previously announced agreements for the acquisition of a 100% interest in the Segilola gold project located in Osun State, Nigeria (the \"Segilola Gold Project\") through the acquisition of Segilola Resources Operating Limited (\"SROL\") from Tropical Mines Limited (\"TML\") and Delano Gold Mining Industries Limited (\"Delano\") and through the acquisition of its joint venture partner Segilola Gold Limited (\"SGL\") from Ratel Group Limited (\"Ratel\"), a wholly owned subsidiary of RTG Mining Inc. (TSXV:RTG) (\"RTG\").\n\nThe Segilola Gold Project\n\nThe Company believes that the Segilola Gold Pr...