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Taiko Critical Minerals Launches Capital Raise of Up to NZ$10 Million

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Taiko Critical Minerals (NZE:TCM) launched a capital raising of up to NZ$10 million, comprising a placement of up to NZ$5 million to select wholesale investors, with an option to accept a further NZ$2 million in oversubscriptions, and a share purchase plan (SPP) of up to NZ$3 million for eligible existing New Zealand shareholders, according to a Monday filing with the New Zealand bourse.

The placement will comprise 20 million shares, while the SPP will offer 12 million shares, with both being issued at a price of NZ$0.25 per share, per the filing.

The funds will be used to support working capital requirements, including completion of the fast track resource consent, the definitive feasibility study, and Overseas Investment Office approval for the Barrytown Critical Minerals Project, the filing said.

The placement is expected to conclude on Tuesday, the filing added.

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