Join our daily newsletter At The Bell to receive exclusive market insights
- Tempus Resources (TMR) seeks to raise C$1 million (A$1.06 million) via a private, non-brokered Canadian share placement
- The company says it plans to raise the funds from Tempus units priced at C$0.07 (A$0.074) each and flow-through (FT) units at C$0.085 (A$0.09) each
- Each unit will consist of one share in the company and half an unlisted option, with each option exercisable at C$0.11 (A$0.12) apiece for a period of 24 months following the closing date of the placement
- Tempus says the placement proceeds will go towards its Canadian exploration projects including the historic Elizabeth-Blackdome gold project
- TMR shares steady at 8.6 cents
Tempus Resources (TMR) has set out to raise up to C$1 million (A$1.06 million) via a private, Canadian non-brokered share placement.
The company said it planned to raise the funds from Tempus units priced at C$0.07 (A$0.074) each and flow-through (FT) units at C$0.085 (A$0.09) each.
Each unit will consist of one share in the company and half an unlisted option and each FT unit will also consist of one share.
Each option will entitle the investor to purchase one Tempest share at a price of C$0.11 (A$0.12) apiece for a period of 24 months following the closing date of the placement.
All units and shares are subjected to a four-month and one day holding period from the date of issuance.
The closing date of the placement is anticipated to be on ore before March 29, subject to regulatory approvals.
Tempus said funds from the placement will be used for “Canadian exploration expenses”, including the historic Elizabeth-Blackdome gold project in southern British Columbia, and general working capital.
TMR shares ended the day’s trading session steady at 8.6 cents.
