An investment fund associated with Fleet Space will make a direct equity investment of $250,000 in Thor via
a share subscription at $0.04 per Share. The Shares are expected to be issued by 8 September 2023. The
Shares will be subject to voluntary escrow for 12 months. Refer Appendix 3B lodged 1 September 2023.
Ok that's a weird way of saying they will be issued shares to pay for this survey.
Share Subscription
Thor will issue 6,250,000 ordinary shares in Thor (“Ordinary Shares”) at A$0.04 (for a total value of
A$250,000) to Fleet. This is deemed the value of the ANT surveys only, with Fleet through the
collaborative partnership, processing and modelling all available geological data, to generate a new 3D
geological and mineralisation model, and assist Thor with drill targeting and the acceleration of
exploration activities at Alford East Project.
Ann: Fleet Space Technologies Collaboration, Alford East Project, page-2
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