Thor Explorations Ltd. (TSXV:THX) agreed to acquire Segilola Gold Limited from RTG Mining Inc. (TSX:RTG) for $5 million on June 27, 2016. The purchase consideration will comprise of cash payment of $1.5 million (CAD 1.96 million) and $1.5 million (CAD 1.96 million) worth of RTG Mining Inc.'s shares payable on closing, and post closing payment of $2 million(CAD 2.61 million) payable on earlier of either Thor Explorations completing a financing for the development of Segilola Gold Project or 24 months following the transaction closing. In a related transaction, Thor Explorations Ltd. (TSXV:THX) agreed to acquire Segilola Resources Operating Limited from Tropical Mines Limited and Delano Gold Mining Industries Limited on June 27, 2016. Thor Explorations will finance the acquisition from a non-brokered private placement for gross proceeds of $4.6 million (CAD 6 million).

The acquisition is subject to certain conditions, including the approval of the TSX Venture Exchange. All securities issued as part of the acquisition and the private placement will be subject to a hold period of four months from the date of issuance of the securities. The currency conversions have been done using www.oanada.com as of June 28, 2016.