Tuesday, July 16, 2024
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Rights offer prospectus

by xyonent
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TRUE NORTH COPPER LIMITED. (ASX: TNC) has released its prospectus.


A non-renounceable accelerated institutional and retail rights issue of one share for every two shares held by eligible shareholders of record on the record date will be priced at $0.056 per share, raising up to approximately $16,699,765 (based on the number of shares outstanding as of the date of this prospectus) (the Rights Offer).

Shareholders who apply for full rights will also be entitled to apply for additional shares up to 100% of their existing rights under the Shortage Offer.

This prospectus also includes an offer to issue up to 135,237,504 shares to institutional investors at an issue price of $0.056 per share to raise up to approximately $7,573,300 (the Offer).

The Entitlement Offer and Placement Offer are being fully underwritten by Canaccord Genuity (Australia) Limited (ACN 075 071 466) (AFSL 234666) (Canaccord) and Morgans.

Corporate Limited (ACN 010 539 607) (AFSL 235407) (Morgans) (the underwriters).

Important Notices

It is important that you read this document in its entirety. If, after reading this prospectus, you have any questions about the shares being offered under this prospectus or any other matters, you should consult your stockbroker, accountant or other professional adviser.

The shares offered by this prospectus should be considered highly speculative.

Click here for the full ASX release

This article contains content from True North Copper and has been licensed for publication in Investing News Australia. This article is not financial product advice. It is your responsibility to carry out appropriate due diligence before acting on any information provided here. See our full disclaimer here.

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