True North Copper (AU:TNC) has released an update.
True North Copper Limited announces a significant funding endeavor with a non-renounceable entitlement offer and additional placement offer, aiming to raise approximately $24.3 million. The entitlement offer allows shareholders to purchase one new share at $0.056 each for every two shares they hold, with the option to acquire more under certain conditions. The entire process is fully underwritten by financial services firms Canaccord Genuity and Morgans, ensuring the offer’s completion.
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