TEM | Entitlement Issue to underpin next phase of exploration in Western Australia

Key Points

• Pro-rata 1-for-5 non-renounceable Entitlement Offer priced at $0.008 per share to raise gross proceeds of $0.83 million.

• Offer price represents a 21.57% discount to the 5-day VWAP price of $0.0102 and 20% discount to the 10-day VWAP price of $0.01.

• Tempest to conduct RC drilling at the Remorse copper target where TEM has a compelling copper-zinc geochemical anomaly coincident with a geophysical (electromagnetic) anomaly and RC drilling at the Sanity gold target which sits several kilometres to the south of the Remorse target.