Thor Mining PLC (LON:THR) (ASX:THR) announced it has restructured the previously terminated conditional agreement to sell its stake in USA Lithium to Hawkstone Limited (ASX:HWK).
The AIM-listed firm referred to a statement which said that both companies had terminated the agreement on 15 June, when Hawkstone cancelled its shareholder meeting to approve the acquisition of 100% of USA Lithium.
READ: Thor Mining shares rise as it terminates USA Lithium acquisition agreement, considers alternatives
Thor said consideration of the acquisition remains unchanged and is subject to a number of other completion conditions including a capital raising by Hawkstone of US$2,750,000 and approval of shareholders.
Hawkstone has indicated that a meeting of shareholders to approve this revised agreement will now be held in early August 2018.
Thor said with effect from 14 June 2018, its requirement to return 10% of disposal proceeds to Pembridge reduced to 5% for a further 12 months.
In morning trading, Thor's shares fell 10.6% to 1.68p.