Tranche 2 and 3 of Share Placement
Completed: A$27.4 million raised
Highlights
·
Toro successfully completes Tranche 2 Placement to institutional and
professional investors to raise approximately A$7.5 million.
·
Toro successfully completes Tranche 3 Placement to OZ Minerals
Limited to raise approximately A$19.9 million.
·
Total amount raised from all three tranches is approximately A$39.9m.
Share Placement
Toro Energy Limited ("Toro" or "the Company") is pleased to announce it has
successfully completed the Tranche 2 Placements to Australian & international institutions
and professional investors, and the Tranche 3 Placement to OZ Minerals Limited ("OZL").
The Tranche 2 Placement involved the issue of 49,969,664 ordinary Toro shares to raise
gross proceeds of approximately A$7,495,450.
The Tranche 3 Placement involved the issue of 132,867,133 ordinary Toro shares to raise
gross proceeds of approximately A$19,930,070.
As announced on 22 September 2009, the Tranche 1 Placement raised A$12,504,550,
therefore bringing total funds raised through the Share Placement to approximately
A$39,930,070.
As at 31 October 2009 Toro's total cash position is A$44.4 million.
Toro would like to take this opportunity to thank all of its new shareholders and OZL for
the support shown to the Company through this significant equity raising. The Company
is now well positioned to take forward its flagship Wiluna Uranium Project with an
anticipated development decision in 2011.
Donald Stephens
Company Secretary
MEDIA CONTACT:
Greg Hall
Toro Energy Limited
08 8132 5600
Kevin Skinner
Field Public Relations
08 8234 9555 / 0414 822 6313
ASX Release
2 November 2009
ASX Code: TOE
ACN 117 127 590
TORO ENERGY LIMITED
3 Boskenna Avenue
Norwood 5067
South Australia
Tel: +61 8 8132 5600
Fax: +61 8 8362 6655
W:
www.toroenergy.com.au
E:
info@toroenergy.com.au
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