This past Friday, Tempus Resources Ltd (OTCMKTS:TMRFF) was in the news after it made a significant new announcement and it is likely that the company’s stock is going to come into focus this week. On that day, the company announced that the non-brokered private placement that it had previously announced had been closed.
On Friday, TMRFF stock ended flat at $0.0800 with more than 1K shares, compared to its average volume of 338 shares. The stock moved within a range of $0.0800 – 0.0800 after opening trade at $0.0800.
Tempus Completes Private Placement and Australian Entitlement Offer Raising A$4.9M
The company announced that it had managed to raise gross proceeds to the tune of as much as A$4.9 million from the transaction. It may be a good idea for investors to consider taking a closer look at the nature of the transaction.
The private placement had actually been closed on August 4, 2022 when it had managed to bring in gross proceeds to the tune of A$1.02 million. The placement was made by issuing as many as 20338885 fully paid up ordinary shares in Tempus Resources.
The placement shares were priced at A$0.05. The placement shares in question had been issued by the company as per the private placement capacity under the rules of the Australian Securities Exchange. However, on August 29, 2022 the company was successful in completing the pro-rata renounceable entitlement offer to shareholders domiciled in New Zealand and Australia.