Ann: Strong Demand for A$18 Million Equity Raising, page-2

Strong Demand for A$18 Million Equity Raising

Highlights
 Firm commitments to raise A$18 million through a strongly supported equity placement.
 Placement was overbid by well over two times, with existing institutional and
sophisticated investors given priority.
 Turaco welcomes a number of new Australian and European institutional investors as
shareholders.
 Positions Turaco in a robust financial position to accelerate the Afema Gold Project in Cote
d’Ivoire.
Turaco Gold Limited (ASX | TCG) (‘Turaco’ or the ‘Company’) is pleased to announce it has received
commitments for a single tranche share placement to raise A$18 million (‘Placement’).
Proceeds from the Placement will be utilised to accelerate drilling at the Afema Project in south-east
Cote d’Ivoire with the aim to expedite a maiden JORC Resource estimate and then to continue to grow
it.
The Placement is strongly supported by existing institutional and sophisticated investors.
Managing Director, Justin Tremain commented:
“This A$18 million raising places Turaco in an extremely well-funded position to accelerate
drilling and unlock value of the incredibly exciting Afema Project in West Africa’s premier
jurisdiction of Cote d’Ivoire. The Afema Project covers an incredibly well mineralised gold system
and is blessed with a long list of drill ready targets. We have two rigs operating on site now and
this raising, along with existing cash, allows this work to continue and be accelerated.
We are fortunate to continue to receive overwhelming support from our shareholders, for which
we thank them, and welcome several leading Australian and European institutional investors as
new shareholders.”

16c..... Quite reasonable.