Australia's Todd River at over two-year low on discounted placement

Xenora Minerals

02/11/2022 02:17

** Shares of Todd River Resources  TRT.AX  fall as much as
5.3% to A$0.018, hitting their lowest levels in more than two
years 
    ** The resources co says it has received firm commitments to
raise about A$3.2 mln ($2.05 mln) via a two-tranche placement
and a share purchase plan  urn:newsml:reuters.com:*:nFWN31X5L5
    ** Under placement, co will raise about A$930,000, while
under share purchase plan, it will raise about A$2.25 mln 
    ** Co says funds raised will be used to fast-track
exploration across co's projects in Western Australia, among
others 
    ** Issue price of A$0.018 per share is at ~5.3% discount to
the last close on Oct 28 
    ** Todd stock down 76.5% this year, as of last close
    ($1 = 1.5615 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))