Tombola gold ltd successfully raised Capital by private placement

Tombola gold ltd (ASX:TBA) has announced successful closing of a book-build to privately place ~132.7 million new fully paid ordinary shares.

Share issue details-

The Company has issued approximately 132.7 million fully paid ordinary shares at an issue price of AU$0.026 per share to eligible sophisticated and institutional investors. The allotment of private placement shares is scheduled on 14 November 2022.

Employment of capital raised-

• Fund raised will be used in accelerating the mining and processing of the great Australian mill gold production plant.
• To acquire Lorena and true north tenement.
• Working Capital.
• Recommissioning of GAM and Lorena gold processing facilities.

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