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Completion of Sale of 75% interest in US Uranium
Completion of Sale of 75% interest in US Uranium.
About this update from Thor Energy Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (\"MAR\"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n13 August 2025\nThor Energy PLC\n \n(\"Thor\" or the \"Company\")\n \nCompletion of Sale of 75% interest in US Uranium Claims in Colorado and Utah\nThor Energy to be issued 14,224,751 shares in Metals One PLC at a deemed 15 Day VWAP of 7.03 pence per share\n \nThor Energy plc (\"Thor\") (AIM, ASX: THR, OTCQB: THORF) is pleased to announce the signing of a Sale and Purchase Agreement (the \"SPA\") to complete a Sale of a 75% interest in its US subsidiaries that hold its non-core US uranium and vanadium projects (the \"Projects\") in Colorado and Utah in the United States to London-quoted Metals One PLC (AIM: Met1) (\"Met1\"). This concludes a previously announced Non-binding Term Sheet (\"TS\") regarding the sale of these assets on 25 July 2025, \"Term Sheet to Sell 75% of Non-Core Uranium Claims\".\n \nHighlights:\n \n· £100,000 (approximately A$205,000) cash exclusivity payment paid.\n· Thor to be issued £1,000,000 (approximately A$2,050,000) in 14,224,751 Met1 shares at 7.03p per share calculated upon a 15-day VWAP prior to the date of the SPA.\n· Met1 to be operator of the Projects whilst Thor to retain a 25% interest.\n· 12-month exclusive option (the \"Option\") granted to Met1 to acquire the remaining 25% Thor interest at a future price to be mutually agreed and/or determined by an independent third-party valuation.\n· Met1 to sole fund exploration activities during the 12-month Option period.\n· Consolidates the proximal Thor and Met1 Colorado and Utah uranium projects under a single operational entity.\n· Provides Thor with a potentially significant source of future, non-dilutionary funding to advance its HY-Range natural hydrogen and helium through to a drill decision in early 2026.\n \nAndrew Hume, CEO and Managing Director of Thor Energy, commented:\n\"I am delighted to announce today...