Fasken advised Thor Explorations Ltd. (the “Company”) in connection with a non-brokered private placement raising gross proceeds of C$15,733,850, which the Company intends to use primarily for the development of its Segilola Gold Project in Nigeria. Under the terms of the private placement, the Company issued 78,669,250 common shares at a price of $0.20 per common share. Of the total proceeds, US$6,750,000 was raised from Africa Finance Corporation (“AFC”). Pursuant to the subscription agreement signed with AFC, AFC has committed to invest a further US$8,250,000 to close concurrently with a second raise of US$13,000,000, which is expected to close before the end of January 2020.
Fasken is advised Thor Explorations Ltd. with a team led by Abayomi Akinjide (Corporate Finance & Securities) and Vanessa McMinn (Corporate Finance & Securities).
Fasken is advised Thor Explorations Ltd. with a team led by Abayomi Akinjide (Corporate Finance & Securities) and Vanessa McMinn (Corporate Finance & Securities).
