Tempest Minerals Raises AU$1.47 Million Following Completion of Entitlement and Shortfall Offer

Tempest Minerals Limited (ASX: TEM) has successfully completed the placement of the shortfall from its pro-rata non-renounceable entitlement offer, raising a total of approximately AU$1.47 million (before costs). The offer was made on the basis of one new share for every two held, at AU$0.004 per share, with free-attaching options exercisable at AU$0.01 expiring on 31 May 2027. The shortfall placement resulted in the issue of 223,992,138 new shares and 55,998,034 new options, allocated at the directors’ discretion in consultation with lead manager Cygnet Capital.

In total, 367,265,205 new shares and 91,816,352 new options were issued under the offer and shortfall placement. Cygnet was also issued 28,035,912 options as part of their compensation. Tempest extended appreciation to shareholders and looks forward to accelerating exploration across its Western Australian projects, strengthening its position in the resource sector.

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