Terra Metals Limited: Placement to Raise AU$6 million

Terra Metals Limited (ASX: TM1) announced that it has successfully secured commitments from institutional and sophisticated investors to subscribe for 100,000,000 new ordinary company shares at an issue price of AU$0.06 per share, raising gross proceeds of AU$6 million Placement. The Company’s largest shareholder, Tribeca, has committed to subscribe for approximately AU$ 941,000 under the Placement, and the Directors of the Company have committed to subscribe for AU$ 174,000 under the Placement.

In addition, several new resource-focused institutions supported the Placement, validating the recent Dante Reefs discovery. The proceeds from the Placement will be used to expedite the exploration and development of the Company’s Dante Project in Western Australia and for general corporate purposes.

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