Tambourah Metals (ASX:TMB) is set to raise AU$3 million via a strategic placement from a new institutional shareholder, Tribeca Investment Partners, according to a Thursday Australian bourse filing.
Tambourah has agreed to issue up to 35.3 million placement shares at an issue price of AU$0.085 per share, representing gross equity of AU$3 million, the filing added.
The shares are expected to be issued on Oct. 9.
The company will also issue 4 million broker options at an exercise price of AU$0.15 expiring on Oct. 9, 2027.