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Thor Explorations granted 30 day extension on US$15M placing

The extension date for the private placement aligns with the target final closing date for Africa Finance Corporation’s US$15 million additional equity subscription

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The firm also revealed that the documentation for AFC’s equity investment has now been agreed and finalized

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.

READ: Thor Explorations extends closing date for C$20 million private placement

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.

Contact the author at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

Quick facts: Thor Explorations Ltd.

Price: 0.21 CAD

TSX-V:THX
Market: TSX-V
Market Cap: $130.45 m
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Thor Explorations fully financed through to first gold at its flagship...

Thor Explorations Ltd's (CVE:THX) Segun Lawson updates Proactive's Andrew Scott on developments at its Segilola gold project in Nigeria. He says the majority of the financing's come from the Africa Finance Corporation - including senior debt, equity and a prepayment on a portion of the gold....

on 26/5/20

2 min read