Thor Says Hawkstone Mining Shareholders Reject USA Lithium Acquisition

LONDON (Alliance News) - Australian mining firm Thor Mining PLC said Friday that Hawkstone Mining Ltd shareholders have rejected the acquisition of USA Lithium Pty Ltd.

In April, Thor Mining said Hawkstone was proceeding with the acquisition of 100% of the shares of USA Lithium.

Thor Mining, which holds a "material" interest in USA Lithium after acquiring the stake from Pembridge Resources PLC in June 2017, was to receive 15.6 million Hawkstone shares for disposal of its US Lithium holding.

At the latest Hawkstone share price of AUD0.022 the transaction totalled gross proceeds of approximately GBP195,000.

"Thor retains its holding in USA Lithium and is liaising with the management team to determine the way forward for the business," the company said.

Thor Mining shares were trading up 10% at 2.07 pence.

Thor Energy