Tempest Minerals completes placement of shortfall shares and progresses exploration

Tempest Minerals Limited (ASX: $TEM) has successfully completed the placement of the Shortfall arising from the non-renounceable pro-rata Entitlement Offer, raising a further $636,587. This brings the total raising from the Rights Issue to $830,602. The Company allocated the Shortfall at their discretion to various parties who previously expressed potential interest in taking up the Shortfall. Tempest is excited to further progress exploration at their Western Australian projects, including upcoming drilling at the Remorse Target.

Executive Commentary

Tempest welcomes the new shareholders and is eager to advance exploration at their Western Australian projects. The placement of the Shortfall has allowed the Company to raise additional funds, enabling them to pursue their upcoming drilling activities at the Remorse Target. We are grateful for the support and look forward to the opportunities this progress will unlock for Tempest Minerals.

Summary

Tempest Minerals Limited (ASX: $TEM) has successfully completed the placement of the Shortfall from the non-renounceable pro-rata Entitlement Offer, raising a further $636,587 and bringing the total raising from the Rights Issue to $830,602. The Company allocated the Shortfall at their discretion to various parties who previously expressed potential interest in taking up the Shortfall. Tempest is excited to further progress exploration at their Western Australian projects, including upcoming drilling at the Remorse Target. The facilitator managing the Shortfall will be paid a 6% fee and has also subscribed for 9,946,684 options exercisable at $0.016, expiring on or before 6 August 2026. The Board of the Company has authorized the release of this announcement, reflecting their commitment to transparency and market disclosure.