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True North Copper Limited (ASX:TNC)

ALERT: Price-sensitive ASX Announcement for TNC
Current share price for TNC : $0.208 -0.173 (-45.39%)+
Announcement
Release
24 Aug 2026 8:06AM
Price at Release
$0.380
Full Release
download
Summary
True North Copper Limited has announced a Share Purchase Plan (SPP) to offer eligible shareholders the opportunity to purchase up to $30,000 of fully paid ordinary shares without incurring brokerage fees. The offer price of $0.37 per share represents a 14% discount to the average closing market price over the five trading days prior to the announcement. The SPP is part of a broader capital raising initiative, which includes a placement to institutional investors, aimed at raising up to $20 million. The funds will primarily support the Mount Oxide Copper Project, including payment obligations to Perilya, resource and infill drilling, expanded development programs, and working capital. The SPP is open from 25 August 2026 to 10 September 2026, with shares expected to be allotted on 17 September 2026.
Key Points
  • SPP offer price is $0.37 per share, a 14% discount.
  • Eligible shareholders can apply for up to $30,000 of shares.
  • The SPP is part of a $20 million capital raising initiative.
  • Funds will be used for the Mount Oxide Copper Project.
  • Offer open from 25 August to 10 September 2026.
  • Shares expected to be allotted on 17 September 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.