Thor Mining PLC - Institutional Placing to Raise £750,000
THOR MINING PLC
INSTITUTIONAL PLACING TO RAISE £750,000
The directors of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR) are pleased to announce an institutional placing to allow acceleration of the Company's gold, copper, and uranium project interests.
· The Company has raised gross proceeds of
· Artemis Resources Limited (ASX:ARV), a company with major gold exploration and development projects in
· Placing Price represents a discount of 5.6% to the closing price on Friday 15th
· Each placee to receive, one warrant for each two placing shares, to subscribe for a further new Ordinary Share at
· An additional 5,647,058 warrants exercisable at 0.85p within three years of the date of issue to be issued to the lead investor as an arrangement fee ("Broker Warrants").
· Funds raised to be utilised for exploration activities at the
"We are very pleased to have the support of a new
"We look towards a very active period during the first half of 2021, with drilling news flow expected from Ragged Range gold, Kapunda and
The Company has raised gross proceeds of
Placees to receive one Warrant for each two shares, to subscribe for a further new Ordinary Share at
The Company will shortly issue 88,235,296 Ordinary Shares and 44,117,648 Warrants, covering the Placing, and 5,647,058 Broker Warrants, utilising the Company's existing shareholder authorities. The 88,235,296 Ordinary Shares will be issued utilising available capacity under ASX Listing Rule 7.1A. The Warrants will be issued utilising available capacity under ASX Listing Rule 7.1.
Settlement and dealings
Application will be made to the AIM Market of the London Stock Exchange ("AIM") for a total of 88,235,296 new Ordinary Shares, pursuant to the Placing, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM are expected to commence at
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Thor will have 1,622,703,822 Ordinary Shares in issue with voting rights attached, inclusive of the recently announced 18,500,000 Ordinary Shares to be issued on
The information contained within this announcement is deemed to constitute inside information as stipulated under the
Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email, and on the Company's twitter page @ThorMining.
About Thor Mining PLC
Thor Mining PLC (AIM, ASX: THR) is a resources company quoted on the AIM Market of the London Stock Exchange and on ASX in
At the 100% owned Ragged Range Project in the Pilbara region of
Thor also holds a 30% interest in Australian copper development company EnviroCopper Limited, which in turn holds rights to earn up to a 75% interest in the mineral rights and claims over the resource on the portion of the historic Kapunda copper mine in
Thor is earning an 80% interest in the Alford East copper project, on
Thor holds 100% of the advanced Molyhil tungsten project in the
Adjacent Molyhil, at Bonya, Thor holds a 40% interest in deposits of tungsten, copper, and vanadium, including Inferred resource estimates for the Bonya copper deposit, and the White Violet and Samarkand tungsten deposits².
Thor holds 100% of the
Thor holds mineral claims in the US states of
¹ Refer ASX and AIM announcement of
² Refer ASX and AIM announcement of
³ Refer AIM announcement of
⁴ Refer AIM announcement of
⁵ Refer ASX and AIM announcement of
Quick facts: Thor Mining PLC
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