Highlights
TNC has now successfully closed:
The breakdown of funds raised (subject to settlement occurring) under these components of the Equity Raising, and the number of new fully paid ordinary shares (New Shares) to be issues, is set out below:
Settlement of the New Shares under the Institutional Entitlement Offer and the Placement is expected to occur on 30 May 2024, with the New Shares expected to be issued and commence trading on 31 May 2024.
TNC’s Executive Chairman, Ian McAleese, said: “The proceeds of the Placement and Institutional Entitlement Offer provides True North Copper with strong liquidity to begin mining at the Cloncurry Copper Project (CCP), starting at the high grade Wallace North deposit. TNC’s immediate focus is to be Australia’s next copper producer and we look forward to updating shareholders over the coming weeks.”
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