Under the terms of the Offer Issue as outlined in section 1.11 of the Rights Issue Offer Document, the Directors allocated the Shortfall at their discretion to various parties who previously expressed potential interest in taking up the Shortfall.
Tempest welcomes the new shareholders and is excited to further progress our exploration at our Western Australian projects including our upcoming drilling at the Remorse Target, which is expected to begin imminently.
For managing the Shortfall, the facilitator will be paid a 6% fee and has, as part of its compensation, subscribed for 9,946,684 options exercisable at $0.016, expiring on or before 6 August 2026 at an issue price of $0.00001 (‘Options’). The Options were issued under Listing Rule 7.1.
The Board of the Company has authorised the release of this announcement to the market.
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