Connect with us

Hi, what are you looking for?

Economy

TNC Announces Institutional Placement

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to advise that it has signed binding documentation with Millinium Capital Managers Limited as trustee for MP Materials and Mining Group Fund for a placement of A$5 million comprising the issue of 41,666,667 fully paid ordinary shares in the Company (Shares) at an issue price of A$0.12 per Share (Placement).

The issue price of $0.12 per Share represents a 66.67% premium to the last closing price of $0.072 prior to the Placement, demonstrating strong investor confidence in the Company’s future prospects and growth potential.

The Shares will be issued under existing placement capacity pursuant to Listing Rule 7.1A and will be subject to voluntary escrow for a period of 12 months from the date of issue.

Settlement of the placement and the issue of the Shares is expected to occur in tranches within the next 7 business days. The Company intends to apply the funds towards working capital including exploration programs.

MP Materials and Mining Group Fund is a specialist mining investment fund office backed by high net worth and family office investors.

Click here for the full ASX Release

This post appeared first on investingnews.com

You May Also Like

Editor's Pick

On April 23, 1985, the Coca-Cola Company made one of the biggest mistakes in American business history: it changed the formula for Coca-Cola. Outraged...

Latest News

Lawmakers reacted after Iran launched drones from its own territory toward Israel late Saturday, calling for the White House to ‘stand firm’ and ‘stop...

Editor's Pick

The final December results from the University of Michigan Surveys of Consumers show overall consumer sentiment improved for the month but remains near historically...

Economy

President Biden has a story he wants to tell voters about the economy, one of consistent job growth over the course of his presidency...