Thrive Tribe Technologies' Capital Raising Announcement

Thrive Tribe Technologies Limited (ASX: $1TT) has successfully raised a total of $329,000 through a Placement to sophisticated and professional investors. The capital was raised through the issuance of 94,000,000 new shares at an issue price of $0.0035 per share, with the primary purpose of funding working capital.

Executive Commentary

We are pleased to have secured this capital raising from sophisticated investors, which reflects their confidence in our business and its growth prospects. The funds raised will be instrumental in supporting our working capital needs as we continue to execute our strategic initiatives. We are grateful for the support of Clee Capital Pty Ltd as the lead manager for this Placement, and we look forward to utilizing these funds effectively to drive the Company's growth.

Summary of Capital Raising and Future Outlook

Thrive Tribe Technologies Limited (ASX: $1TT) has successfully completed a capital raising of $329,000 through the issuance of new shares to sophisticated and professional investors. The Company plans to utilize these funds primarily for working capital, which will enable it to pursue its strategic objectives and operational requirements. The appointment of Clee Capital Pty Ltd as the lead manager for the Placement signifies a positive step in the Company's fundraising efforts. Looking ahead, Thrive Tribe Technologies aims to leverage the raised capital to enhance its operational capabilities and drive sustainable growth in line with its corporate strategy.