Thomson Resources (ASX: TMZ) and Lind Global Fund II, LP have agreed to extend the Share Placement Agreement announced in early August.
Under the extension of the Agreement, the company is to receive a further net amount of A$388,000 (after deduction of commitment fees payable to Lind of $12,000). Terms of the Agreement are set out below. The funds have been remitted to the company.
The additional funding under the Agreement is for working capital purposes.
Details of the Amendments to the Share Placement Agreement
The key terms of the amendments of the Share Placement Agreement are as set out below, otherwise the terms of the amended Agreement remain the same:
* Additional Advance Payment Amount: A$400,000
* Additional Commitment Fees: A$12,000
* Additional Advance Payment Date: 4 October 2022
* Additional Initial Shares: 20,000,000 fully paid ordinary shares in the company to be issued
to Lind, at a price of A$0.02, at or before the Additional Advance Payment Date. There are no limitations on Lind regarding selling these shares. If at the expiration of the Term there are still Advanced Initial Shares that have not been applied towards subscription or repayment, then those shares will be transferred at the direction of the company or Lind will pay for those shares based on a formula set out in the Share Placement Agreement
* Additional Advance Payment Value: A$480,000
* Additional Options: 10,000,000 options with an exercise price of A$0.036 and an expiration date of 48 months after issue will be issued to Lind upon the company obtaining shareholder approval to the issuing of the options at the next General Meeting to be held before December 31, 2022
* Subscription for Shares: there are no restrictions in relation to Subscriptions in relation to the Additional Advance Payment Value.
* Use of Capital: the funds received by the Company will be applied for general working capital purposes
* Other Terms: save as amended above all other terms of the Agreement apply to the Additional Advance Payment, Additional Initial Shares and Additional Options.
* Issuing Capacity: the issue of the Additional Initial Shares is made out of the capacity approved by shareholders at the General Meeting held on July 4, 2022 and the Additional Options will be subject to subsequent shareholder approval. The company may seek shareholder ratification of the transaction in due course in order to retain flexibility for future fundraising requirements.
Under the Agreement, the aggregate of all new Subscription Shares agreed to be issued pursuant to this amended Agreement (not including Subscription Shares set off against the Unused Initial Share Number and Unused Additional Initial Share Number) is limited to 70,000,000 Shares. This limitation does not apply to any Subscription Shares issued by the Company under a valid Shareholder Approval.
For further information please visit: https://www.thomsonresources.com.au/