RE: Fund raising30 Jun 2025 18:00
Maybe they will make a fresh offer, expecting a further 30% discount...
One to watch now, if the funder pays up, a midday update..
Also now means a fund raise could be on the cards, as they need to raise 18m by year end
Under the terms of the Loan Agreement, in addition to the amount that has settled to date pursuant to the Placement,Touchstone is required to raise not less than approximately US$18 million in equity proceeds on or before December 31, 2025, or such later date as may be agreed with the lender.". Following the completion of drilling the Cascadura-5 well, the Company will defer further activity under its 2025 capital program. Considering whether the outstanding Placement funds are ultimately received, Touchstone will evaluate financing options in the near term to satisfy the requirements of the Loan Agreement in relation to the raising of equity capital, and to be able to resume its 2025 capital program.