Tungsten Mining has announced a placement to sophisticated and institutional investors to raise approximately $20 million. Directors have received firm commitments representing approximately 75% of the Placement. Pursuant to the Placement terms, approximately 58,823,529 shares will be issued to sophisticated and institutional investors at an issue price of 34 cents per fully paid ordinary share. For every five (5) new shares subscribed applicants will receive one (1) free attaching option (or approximately 11,764,706 options).
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