Tyranna Raises $300,000 for Working Capital

February 05, 2020 02:30 PM AEDT
Team Kalkine

Tyranna Resources Limited (ASX:TYX) raises $300,000 from sophisticated investors in exchange of 100 million fully paid ordinary shares at $0.003 per share.

The placement was subscribed, and settlement is expected to occur on 10 February 2020, and the placement shares would be issued in single tranche without any approval from shareholders, as the placement is under the placement capacity of Tyranna pursuant to ASX Listing Rules 7.1.
TYX intends to utilise the fund for working capital and preliminary due diligence on a number of corporate opportunities that have been presented.
CPS Capital Group Pty Ltd (CPS) was mandated as Lead Manager to the Placement as well as Broker & Corporate Advisor to Tyranna with a fee of 6 per cent paid to CPS.

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