Tivan (ASX:TVN) is set to raise AU$9 million via the placing of 85.7 million shares priced at AU$0.105 apiece, according to a Thursday filing with the Australian bourse.
This is a 4.5% discount to the last closing price on Feb. 10, the filing said.
Executive Chairman Grant Wilson raised around AU$3.5 million for the book, per the filing.
The company is also offering one free-attaching option for every two shares subscribed exercisable at AU$0.20 each and expiring Sept. 30, 2027.
Evolution Capital was the lead manager for the placement and options offer.
Proceeds will be used to fund a number of initiatives, including the Speewah and Sandover fluorite projects.
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