Last checked at 17 Mar 2017 07:00
17 March 2017
THOR MINING PLC
EXERCISE OF WARRANTS
The Board of Thor Mining Plc ("Thor" or the "Company") (AIM, ASX: THR), advises that it has received a binding warrant exercise notice from Beaufort Securities Limited for the exercise of 3,312,477 warrants over ordinary shares of 0.01 pence each in the capital of the Company ("Ordinary Shares"), each with an exercise price of 0.9 pence per warrant. The gross proceeds of the exercise of these warrants amounts in aggregate to £29,812.
Application has been made for 3,312,477 new Ordinary Shares, which rank pari passu with the Company's existing issued ordinary share capital, to be admitted to trading on the AIM Market of the London Stock Exchange ("AIM"). Dealings on AIM are expected to commence at 8.00 a.m. on or around 21 March 2017 ("Admission").
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Thor will have 372,250,843 Ordinary Shares in issue with voting rights attached. Thor holds no shares in treasury. This figure of 372,250,843 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the ASX Listing Rules or the DTRs.
Mr Mick Billing, Executive Chairman of Thor: "We are very pleased with this ongoing support from our investors. The recently announced very positive news regarding drilling results at Pilot Mountain provide a compelling case for follow up work, and funds raised via exercise of warrants can contribute towards this."
"We eagerly await the results of assays following the successful drill programme which are expected in the near term and which will further highlight the extent of mineralisation at what the Board believe is a substantial strategic metals project in Nevada, United States. "
Enquiries:
Mick Billing | +61 (8) 7324 1935 | Thor Mining PLC | Executive Chairman |
Ray Ridge | +61 (8) 7324 1935
| Thor Mining PLC | CFO/Company Secretary |
Colin Aaronson/ Daniel Bush/ Richard Tonthat | +44 (0) 207 383 5100
| Grant Thornton UK LLP
| Nominated Adviser |
Elliot Hance | +44 (0) 207382 8300 | Beaufort Securities Limited | Joint Broker |
Nick Emerson / Andy Thacker | +44 (0) 1483 413 500 | SI Capital Ltd | Joint Broker |
Tim Blythe/ Camilla Horsfall | +44 (0) 207 138 3222 | Blytheweigh | Financial PR |
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Updates on the Company's activities are regularly posted on Thor's website www.thormining.com, which includes a facility to register to receive these updates by email, and on the Company's twitter page @ThorMining.