Thor Mining acquires US uranium and vanadium assets Thor Mining has acquired 100% of the shares in American Vanadium, an Australian company which has interests in uranium and vanadium projects in the US.
The consideration for the acquisition comprises an AUD100,100 ($67,463) exclusivity fee, which will be satisfied through the issue of 8.35 million ordinary shares in Thor Mining, and an AUD144,000 ($96,984) acquisition fee to be satisfied by the issue of 24 million ordinary shares. Future payments may also be incurred across three stages subject to the achievement of project milestones.
Thor Mining has also announced that it will pursue strategic financing to allow the acceleration of the company’s project interests, as well as to fund work on the newly acquired projects.