Theta Gold Mines (ASX: $TGM) Equity Funding Placement Announcement

Theta Gold Mines Limited (ASX: $TGM) has secured firm commitments for a US$10.0 million equity funding placement through a private placement cornerstoned by an existing long term institutional investor, Hong Kong Ruihua Investment Management Limited. The placement pricing represents a 16.1% discount to the last closing share price and a 20% discount to the 15-day VWAP. The proceeds from the placement will support completing funding packages for gold plant construction, detailed engineering for the TGME Gold plant, as well as for the TSF, EPC builder selection and contracts.

Executive Commentary on Equity Funding Placement

Chairman Mr. Bill Guy expressed his satisfaction with the continued support from the existing institutional investor, Hongkong Ruihua Investment Management Limited. He highlighted the significance of the funding package in progressing with the EPC agreement with PowerChina for pre-development and construction components of the TGME Gold plant, providing momentum to advance the project delivery and opportunities for early cashflows.

Summary of Theta Gold Mines (ASX: $TGM) Equity Funding Placement

Theta Gold Mines Limited (ASX: $TGM) has successfully secured a US$10.0 million equity funding placement through a private placement cornerstoned by an existing long term institutional investor, Hong Kong Ruihua Investment Management Limited. The placement pricing represents a 16.1% discount to the last closing share price and a 20% discount to the 15-day VWAP. The proceeds from the placement will be utilized to complete funding packages for TGME Gold Plant construction, EPC contracts, development works for plant and TSF, water management for TGME gold project, strengthen the company's balance sheet, provide momentum to progress advancement of project activities, bond and loan interest repayments, and general working capital. The company's chairman, Mr. Bill Guy, emphasized the importance of the funding package in advancing the project delivery and creating opportunities for early cashflows.