True North Copper Limited Announces Prospectus Release

Exciting news for investors as True North Copper Limited (ASX: TNC) unveils its latest Prospectus announcement.

The company is offering a non-renounceable accelerated institutional and retail entitlement issue, giving eligible shareholders the opportunity to receive one (1) Share for every two (2) Shares held at an issue price of $0.056 per Share. This aims to raise up to approximately $16,699,765 through the Entitlement Offer.

But the good news doesn’t stop there. Shareholders who subscribe to their full entitlement also have the chance to apply for additional Shares under the Shortfall Offer, up to 100% of their existing Entitlements.

In addition, the Prospectus includes an offer of up to 135,237,504 Shares at $0.056 per Share to Institutional Investors, with the goal of raising around $7,573,300 through the Placement Offer.

Both the Entitlement Offer and the Placement Offer are fully underwritten by Canaccord Genuity (Australia) Limited and Morgans Corporate Limited, ensuring a secure investment opportunity for interested parties.

Important Details to Note

Investors are advised to read the Prospectus thoroughly and seek professional advice if needed. The Shares offered in this Prospectus are considered highly speculative and require careful consideration.

Not for release to US wire services or distribution in the United States except by the Underwriters to Institutional Investors.

This is a replacement prospectus dated 23 May 2024. It supersedes the previous prospectus related to the Shares of True North Copper Limited (ACN 119 421 868).

Click here for the full ASX Release

This article contains content from True North Copper, licensed for publication on Investing News Australia. Please note that it is not financial product advice and readers should conduct proper due diligence before making any investment decisions. Refer to our full disclaimer for more information.