TerraCom Raises AU$1.1 Million Via Placement; Shares Tumble

MT Newswires Live

02/24

TerraCom (ASX:TER) has raised around AU$1.1 million through placing of about 19.3 million shares in the company at a price of AU$0.06 per share, according to a Tuesday filing with the Australian bourse.

The company plans to use the proceeds from the placement for additional working capital and to boost its balance sheet.

Shares fell nearly 3% in recent trading.

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