PERTH (miningweekly.com) – ASX-listed TNG is hoping to raise as much as A$4-million in a share purchase plan (SPP), to fund ongoing development activities at the Mount Peake vanadium project, in the Northern Territory.
Eligible shareholders will be allowed to subscribe for up to A$15 000 worth of new shares, priced at 13.5c each. The offer included a free attaching option on a one-for-two basis.
The options can be exercised at 20c each and have an expiry date of June 2018.
TNG said on Thursday that the issue price represented a 14.73% discount to the company’s volume-weighted average price over the last five days.
The SPP will close on December 19.
Edited by: Creamer Media Reporter
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