Tivan Limited announces strategic capital raising

Tivan Limited (ASX: $TVN) has agreed to a capital raising of up to $12.4 million through a convertible note facility and a placement of new ordinary shares. The funding will support the Company's project and corporate plans in 2024, including the Speewah Project in Western Australia.

Executive Chairman's commentary on strategic funding round

We are pleased to complete this strategic funding round, providing Tivan with runway through 2024 to achieve key milestones and deliver important catalysts. L1's backing demonstrates that Tivan has graduated to the top-tier of junior resource companies in Australia, and will promote further institutional engagement as the year proceeds. We look forward to providing a comprehensive update this afternoon, via an online investor briefing. We will provide details shortly. Onward.

Summary of capital raising and outlook

Tivan Limited (ASX: $TVN) has secured a strategic capital raising of up to $12.4 million through a convertible note facility and share placement. The funding will facilitate the progression of the Company's project and corporate plans in 2024, including the Speewah Project in Western Australia. The Facility, structured to provide flexible financing, will align with the Company's project development plans, exploration strategy, and corporate activity. The capital raised will fund development works for the Speewah Fluorite and Vanadium Projects, technology projects, exploration at the Sandover Project, and corporate costs, providing general working capital. The Company's Executive Chairman, Mr Grant Wilson, expressed optimism about achieving key milestones and delivering important catalysts with the backing of L1 Capital. Tivan aims to provide a comprehensive update through an online investor briefing, indicating a positive outlook for the Company's future endeavors.