TechGen Metals Limited announces a AU$2.0 million placement

TechGen Metals Limited (ASX: TG1) announced that it had received firm commitments from institutional and sophisticated investors to raise AU$2.0 million via the placement. The placement includes the issue of approx. 10,810,811 fully paid ordinary shares at AU$0.185 per new share. The issue price denotes a 5.1% discount to the last traded price of AU$0.195 per share and a 13.9% discount to the 15-Day Volume Weighted Average Price.

The funds raised through placement will be used to increase the exploration activities across the company’s project portfolio. The primary focus will be on the new discovery at the John Bull gold project in NSW, where additional work will be commenced to evaluate the scale potential of the gold mineralisation.

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