Tasman Resources has completed the second tranche of its $2 million share placement, issuing 92 million shares and raising $1.15 million before costs. The company confirms full compliance with regulatory requirements in its updated cleansing notice.
- Completion of second tranche share placement
- 92 million fully paid ordinary shares issued
- Raised $1.15 million before costs
- Updated cleansing notice confirms regulatory compliance
- No excluded information required to be disclosed
Completion of Share Placement
Tasman Resources Limited has announced the completion of the second tranche of its previously announced $2 million share placement. The company issued 92 million fully paid ordinary shares to sophisticated investors, raising $1.15 million before costs. This follows the initial tranche and brings the total capital raised under this placement to the targeted $2 million.
Regulatory Compliance and Cleansing Notice
Alongside the share issuance, Tasman Resources provided an updated cleansing notice to the Australian Securities Exchange (ASX). This notice confirms that the shares were issued without disclosure under Part 6D.2 of the Corporations Act, but that the company has complied with all relevant provisions, including Chapter 2M and section 674 of the Act. Importantly, the company stated there is no excluded information that requires disclosure under section 708A(6)(e), indicating transparency and regulatory adherence.
Implications for Tasman Resources
The successful completion of this placement strengthens Tasman Resources’ capital base, providing fresh funds that could support ongoing operations or exploration activities within the mining sector. While the announcement does not specify the precise use of proceeds, the injection of $2 million is a positive signal of investor confidence and financial stability. The company’s clear communication and compliance with regulatory frameworks also reinforce its commitment to good governance.
Looking Ahead
Investors will be watching closely for updates on how Tasman Resources plans to deploy the newly raised capital. The mining sector remains competitive, and effective use of funds could be pivotal in advancing projects or expanding resource potential. Meanwhile, the share placement may influence the company’s share price and market perception in the near term.
Bottom Line?
Tasman Resources’ completed placement bolsters its financial footing, setting the stage for strategic moves ahead.
Questions in the middle?
- How will Tasman Resources allocate the $2 million raised?
- What impact will the share placement have on the company’s share price?
- Are there any upcoming operational milestones tied to this capital raise?