Taruga Minerals Announces Board Changes, Capital Raising & Placement

  • Nov 07, 2019 AEDT
  • Team Kalkine

Taruga Minerals Limited (ASX: TAR) announced three significant updates in the company.

  • TAR received commitments for the placement of 21,175,085 ordinary shares at a price of $0.01 per share to strategic and sophisticated investors. The proceeds from the placement will be used for project evaluation, on-going due diligence and exploration activities in Australia.
  • TAR intends to undertake a non-renounceable entitlement offer to all the shareholders on a 1 for 1 basis at $0.01 per share to raise $1,623,433 before costs. The offer will be jointly underwritten by Ashanti Capital Pty Ltd and Shaw and Partners.
  • Mr Stefan White joined the Board as a non-executive director, while Mr Bernard Aylward and Ms Sheena Eckhof have offered to step down as Directors.

 

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