Tempus Resources completes second tranche of $4 million capital raising

Tempus Resources Ltd (ASX:TMR) (FRA:4W0) has completed the second tranche of the A$4 million capital raising announced on May 4, 2020, with funds to support the company's gold exploration efforts in Ecuador and British Columbia, Canada.

This tranche raised just over A$3 million and comprised:

  • 2,307,700 shares at a price of A13 cents per share, to raise A$300,001;
  • 5,649,217 shares priced at A13.5 cents per share, to raise A$762,644 (the standard Canadian flow-through sub-tranche); and
  • 10,473,108 shares priced at A18.5 cents per share, to raise AU$1,937,525 (the BC super flowthrough sub-tranche).

Tranche-2 shares include components issued under the Canadian flow-through shares and BC super flow-through schemes, which provide tax credits to those investors for capital to be used in qualifying mining and exploration activities.

Tempus shares have been as much as 8% higher in early trade to A$0.27 and have risen from A$0.10 at the close on March 23 on the back of a strong gold market.

Funding exploration

The A$1.006 million proceeds from the tranche-1 placement were applied to the companys exploration projects in Ecuador and for general working capital.

The tranche-2 proceeds will fund exploration at the Blackdome-Elizabeth Gold Project in British Columbia, Canada.>Read More – Source