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immy101

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02/07/24

14:17

Post #: 74568010
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Originally posted by just browsing: ↑

TM1: Beware of the impact of those cheap shares .. once they get allocated .. on or about July 2

Terra Metals Limited (ASX:TM1) (Company)is pleased to announce that it has successfully secured commitments from institutional and sophisticated investors to subscribe for 100,000,000 new ordinary shares of the Company at an issue price of $0.06 per share, to raise gross proceeds of $6 million

The Placement will be completed in two tranches as follows:
(a) 68.6 million new shares will be issued on or about 2 July 2024 under Listing Rules 7.1 (39.1 million shares) and 7.1A (29.5 million shares); and
(b) 31.4 million new shares will be issued subject to shareholder approval to be sought at a General Meeting of the Company’s shareholders. A notice of meeting will be sent to shareholders shortly.

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The shares dropped today - see https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02821385
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