September 19, 2022
Tempus Resources Ltd. (TSXV:TMRR, Not Rated, Timothy Lee) has completed its previously announced non-brokered private placement and entitlement offer (read here and here) for total gross proceeds of ~A$4.9M. As part of the private placement, the company raised ~A$1.02M through the issuance of ~20.3M shares at A$0.05/sh, together with one free attaching option for every share issued. The placement options enable the holder to acquire one share at A$0.075/sh for three years from its date of issue and are also intended to be listed on the ASX to commence trading on 30 September 2022. Furthermore, as part of the entitlement offer, Tempus closed its offer to Australian and New Zealand shareholders of one fully paid common share for every two shares held at an issue price of A$0.05/sh, together with one free attaching option for every new share issued, raising ~A$3.9M. The options entitle the holder to purchase one share at A$0.075/sh for 36 months from the date of issue. The entitlement options commenced trading on the ASX under the ticker code “TMRO” on 5 September 2022. Importantly, the company is expected to use these proceeds towards exploration activities at its projects in Canada and Ecuador, as well as for general working capital purposes. Read more
