Thor Explorations Ltd (CVE:THX) said its private placing of US$15 million is progressing and that the TSX venture exchange has granted it an extension of 30 days to close the offering.
As reported last month, in addition to Thor's financing of US$78 million from the Africa Finance Corporation announced in April this year, the extension date for the private placement aligns with the target final closing date for AFC’s US$15 million additional equity subscription.
Thor also said on Wednesday that the documentation for AFC’s equity investment has now been agreed and finalized and will be submitted to the TSX Venture Exchange for approval.
Vancouver-based Thor is focused on advancing properties in Nigeria, Senegal and Burkina Faso.
The firm holds a 100% interest in the Segilola gold project located in Osun State of Nigeria and a 70% interest in the Douta Gold Project located in south-eastern Senegal.
Thor also holds a 49% interest in the Bongui and Legue gold permits located in Houndé greenstone belt, south west Burkina Faso.
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