Thor Explorations Ltd. closed its previously announced private placement with Sprott Capital Partners, a division of Sprott Private Wealth LP, as lead agent, which, together with a syndicate of agents for 44,453,335 units of the Thor Explorations at a price of $0.18 per unit.
Each unit consists of one common share of Thor Explorations and one common share purchase warrant (“Warrant”). Each Warrant entitles the holder to purchase a common share of the Company at a price of $0.28 for a period of 36 months. The aggregate gross proceeds of the offering totalled $8 million.
Fasken advised Thor Explorations Ltd. with a team led by Iain Mant (Securities/M&A), and included Steve Saville(Securities/M&A) and Martin Ferreira Pinho (Securities/M&A).