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Terramin Australia (ASX: $TZN) secures us$6.68 million investment

Terramin Australia (ASX: $TZN) secures us$6.68 million investment


Terramin Australia Limited (ASX: $TZN) has secured an investment of US$6.68 million from a strategic investor through the issue of a Convertible Note. The Convertible Note will be issued when the funds have been received by Terramin in the next few days.

Executive Commentary


The Board of Terramin Australia Limited is pleased to announce the successful securing of a US$6.68 million investment from a strategic investor through the issue of a Convertible Note. This investment will provide the company with the necessary capital for general administration, working capital costs, project funding, and repayment of short-term debt facilities. We are confident that this strategic investment will contribute to the company's growth and development in the coming years.

Summary


Terramin Australia Limited (ASX: $TZN) has successfully secured a US$6.68 million investment through the issue of a Convertible Note to a strategic investor, Conest Resources Limited. The Note is unsecured and unlisted with a maturity date of 3 years from the Issue Date, mid-January 2027. The investment proceeds will be utilized for general administration, working capital costs, project funding, and repayment of short-term debt facilities. The company intends to seek ratification of the issue of the Note at its next Annual General Meeting of shareholders. This investment is expected to support Terramin's corporate strategy and contribute to its future endeavors.

Sourcehttps://announcements.asx.com.au/asxpdf/20240102/pdf/05z2v3wr7l1gyw.pdf

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