Tlou Energy: Raising $3M for project development
- Power solutions company Tlou Energy (TOU) is aiming to raise $3 million through an entitlement offer
- Then the company will issue 75 million new shares at a price of $0.04 each
- Eligible shareholders can subscribe for one share for every six shares they hold
- Applicants will also receive one free unlisted new option for every two offer shares allocated
- Tlou focused on generating cleaner power in Botswana for supply into the local and regional power markets
- Managing Director Tony Gilby said the funds will go towards two key items – grid connection and development funding
- On market close, Tlou is down 13.8 per cent and is selling shares for 5 cents each
