Thor Energy Plc (ASX:THR) Completes Acquisition of Go Exploration and Announces Share Admission
Acquisition Details
Thor Energy Plc has completed the acquisition of 80.2% of Go Exploration Pty Ltd by issuing 466,462,584 new ordinary shares. Go Exploration holds significant hydrogen and helium exploration licences in South Australia, enhancing Thor’s position in clean energy resources.
Share Admission
Additionally, the company will issue 25,000,000 Consultant Shares to Orana Corporate LLP for consultancy services. The new shares will be listed on the London Stock Exchange’s AIM and the ASX from 20 February 2025, increasing the total issued ordinary shares to 1,003,405,968.
Executive Comments
Managing Director Andrew Hume stated, “This is a truly transformative acquisition for Thor Energy. The addition of Go Exploration’s highly prospective hydrogen and helium licences, particularly the granted licence PEL 120 with its proximity to recent significant discoveries, positions Thor at the forefront of natural hydrogen and helium exploration in Australia. We are incredibly excited about the potential of these assets, especially as we look forward to the upcoming resource statement, and the opportunity to rapidly advance exploration and development. This acquisition aligns perfectly with our strategic focus on clean energy resources and significantly strengthens our portfolio. We welcome the Go Exploration team and look forward to working together to unlock the immense value of these projects for our shareholders.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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