Thrive Tribe Technologies Secures $1 Million in Funding through Placement

1 min read | December 31, 2024 12:29 PM AEDT | By Team Kalkine Media

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Thrive Tribe Technologies Secures $1 Million in Funding through Placement — Image source: shutterstock

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Highlights

Thrive Tribe raises $1 million via Placement, issuing 625 million new shares.

Funds will be used for working capital to support ongoing operations.

Clee Capital appointed as lead manager, receiving a 6% fee on funds raised.

Thrive Tribe Technologies Limited (ASX:1TT) has successfully secured $1,000,000 in funding through a Placement of 625,000,000 new shares. The shares are being issued at an issue price of $0.0016 each, representing a 20% discount to the 5-day volume-weighted average price (VWAP). The proceeds from this Placement will be used to support the company’s working capital needs.

Clee Capital Leads the Placement

Clee Capital Pty Ltd has been appointed as the lead manager for the Placement. The firm will receive a 6% fee on all funds raised under the Placement (excluding GST).

Shareholder Approval and Issuance

The new shares will be issued under Resolution 4, which was approved by shareholders at the Annual General Meeting held on 22 November 2024. This funding will support Thrive Tribe Technologies as it continues to grow and execute its business plans.

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