Thrive Tribe Technologies Limited Secures $1 Million Capital Raise

Highlights:

• Capital Boost: Thrive Tribe Technologies Limited (ASX: 1TT) has successfully raised $1,000,000 through a share placement at a 20% discount to the five-day VWAP, strengthening its financial foundation.
• Strategic Allocation: The funds will be used primarily for working capital to support operational and growth objectives, reflecting the company's focus on sustainable development.
• Clee Capital Partnership: Clee Capital Pty Ltd acted as the lead manager, earning 6% of the total funds raised, excluding GST, showcasing Thrive Tribe's strategy of leveraging experienced financial managers for efficiency.

Significant Capital Injection

Thrive Tribe Technologies Limited (ASX:1TT), a prominent player in innovative technology solutions, has successfully raised $1,000,000 through a funding initiative targeted at sophisticated and professional investors. At the time of writing, this substantial capital raise underscores the company's commitment to strengthening its financial base and accelerating its strategic goals.

Details of the Capital Raise

The funding will be achieved by issuing 625,000,000 new shares at $0.0016 per share, reflecting a 20% discount to the five-day Volume Weighted Average Price (VWAP). This discounted pricing strategy aims to attract investors while maintaining shareholder value. The capital will primarily be allocated for working capital, ensuring Thrive Tribe's operational and growth objectives are well-funded.

Clee Capital’s Role as Lead Manager

Clee Capital Pty Ltd has been appointed as the lead manager for this placement. For their role, Clee Capital will receive 6% of the total funds raised, excluding GST. This partnership reflects Thrive Tribe’s strategy to engage experienced financial managers to streamline the capital-raising process and maximize investment efficiency.

Shareholder Approval

The new shares will be issued in accordance with resolution 4, approved by shareholders during the Annual General Meeting held on November 22, 2024. This approval highlights the alignment between Thrive Tribe's management and its shareholders in pursuing the company’s growth strategy.

Future Outlook

This capital injection positions Thrive Tribe Technologies Limited to reinforce its financial foundation and sustain its business trajectory. The company's board has expressed confidence in leveraging this funding to enhance operational stability and long-term shareholder value.

This milestone demonstrates Thrive Tribe’s ability to attract investor confidence while focusing on sustainable growth.

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