Tempus Resources completes second tranche of $4 million capital raising

Tempus Resources Ltd (ASX:TMR) (FRA:4W0) has completed the second tranche of the A$4 million capital raising announced on May 4, 2020, with funds to support the company's gold exploration efforts in Ecuador and British Columbia, Canada. This tranche raised just over A$3 million and comprised: 2,307,700 shares at a price of A13 cents per share, to raise A$300,001; 5,649,217 shares priced at A13.5 cents per share, to raise A$762,644 (the standard Canadian flow-through sub-tranche); and 10,473,108 shares priced at A18.5 cents per share, to raise AU$1,937,525 (the BC super flowthrough sub-tranche). Tranche-2 shares include components issued under the Canadian flow-through shares and BC super flow-through schemes, which provide tax credits to those investors for capital to be used in qualifying mining and exploration activities. Tempus shares have been as much as 8% higher in early trade to A$0.27 and have risen from A$0.10 at the close on March 23 on the back of a strong gold market. Funding exploration The A$1.006 million proceeds from the tranche-1 placement were applied to the company’s exploration projects in Ecuador and for general working capital. The tranche-2 proceeds will fund exploration at the Blackdome-Elizabeth Gold Project in British Columbia, Canada. Joint-lead managers Aesir Capital Pty Ltd and Clarus Securities Inc acted as joint-lead managers to the capital raising. As part of their fees, Aesir has been issued with 3 million unlisted options with an exercise price of 15 cents and expiry date of three years from issue. Clarus has been issued 338,953 unlisted options with an exercise price of 13.5 cents and 514,873 unlisted options with an exercise price of 18.5 cents, all expiring two years from date of issue.