Amalgamation Closes-Thor Explorations Ltd. (TSX VENTURE: THX) to Begin Trading Today
September 01 2009 - 8:00AM
Marketwired
Thor Explorations Ltd. ("Thor") (TSX VENTURE: THX) today announced
the completion of the amalgamation (the "Amalgamation") of Thor
Explorations Ltd. ("Old Thor") and Magnate Ventures Inc.
("Magnate") (NEX BOARD: MGV.H). Thor's common shares will begin
trading today on the TSX Venture Exchange under the symbol "THX".
Under the terms of the previously disclosed amalgamation
agreement between Old Thor and Magnate (the "Amalgamation
Agreement"), which was approved by Old Thor and Magnate
shareholders on August 25, 2009, each common share of Old Thor has
been exchanged for 0.5 shares of Thor and each common share of
Magnate has been exchanged for 0.42 shares of Thor. Thor has
29,770,302 issued and outstanding common shares.
Thor management includes Stephen Barley, as President and CEO,
Kathleen Butt as CFO, and Kathy Chan as Corporate Secretary. Thor's
directors are Stephen Barley, Kurt Bordian and Sargent Berner.
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein,
the information presented constitutes "forward looking statements".
Such forward-looking statements, including but not limited to those
with respect to the expected benefits of the Amalgamation, involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Thor to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among other risks, risks related
to the expected benefits of the amalgamation. Although Thor has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
THOR EXPLORATIONS LTD.
Shares Outstanding: 31,342,272
MAGNATE VENTURES INC.
Shares Outstanding: 33,390,921
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Thor Explorations Ltd. J. Stephen Barley 778-373-0102
604-639-4670 (FAX)
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