Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) has raised £1 million and announced a move into helium and hydrogen exploration through the potential acquisition of an 80% stake in Australian group Go Exploration.
GoX is an explorer looking for naturally occurring or white hydrogen and helium in South Australia through a portfolio of licences.
If a deal is agreed, Thor will issue 466.5 million shares in consideration for the stake in GoX.
Thor added it is raising the £ 1 million through a share issue at 0.75p, or a 6.25% discount to the current price with no warrants attached.
The fundraiser in is two batches with shareholder consent needed.
Alastair Clayton Thor Energy’s executive chairman, commented: "I am really pleased to have completed this equity fundraise which was well supported by new and existing shareholders.
"I note we were able to complete this at small discount to AIM mid-market price and no warrants or options have been issued as part of this exercise.
“Furthermore, I am excited to be able to discuss with shareholders today the progress we have made in a potential acquisition of Go Exploration and I am working to drive this transaction to a potential commercial close.”