The total consideration is A$250,000. The Investment forms part of a fundraise by Thor, which is raising A$970,000 in total.
Thor is entering into an exclusive option agreement for the potential acquisition of certain uranium and vanadium interests in the US.
As part of the fundraise, investors have been granted one warrant for every two Thor Shares subscribed for, exercisable at a price of A$0.01 per share for a period of three years from the date of issue. Accordingly, as part of the investment, Metal Tiger will be issued with 25mln warrants.
“We continue to see significant value in Thor Mining and are pleased to support their fund raise which has seen Thor successfully raise money from Australian investors and secure an option to acquire highly prospective US uranium and vanadium exploration projects,” said Michael McNeilly, chief executive of Metal Tiger in a statement.
“We believe that the outlook for uranium demand in the US is expected to be particularly robust and are pleased Thor now has significant exposure to this commodity. Further, we are also pleased to see plans being made to progress exploration drilling activities at Kapunda to define a gold resource, and we look forward to further news in the short term.”