True North Copper Limited (ASX:TNC) today announced the successful closure of its Share Purchase Plan (SPP), which concluded at 5:00 pm (AEST) on 10 September 2026. The company advised that total subscriptions under the plan amounted to A$0.75 million. New shares from the SPP have been issued at A$0.37 per share, an identical price to that of the company’s recent institutional placement. True North Copper is an Australian copper company advancing a portfolio of 100%-owned assets in the world-class Mt Isa region of Northwest Queensland. The company is executing a three-platform growth strategy focused on growing resources, developing near-term cashflow, and discovering new targets.
The SPP provided eligible existing shareholders with an opportunity to participate alongside the company’s recent institutional placement, applying for up to A$30,000 worth of new shares without incurring brokerage or transaction costs. The plan was initially announced on 17 August 2026 and subsequently opened for applications on 25 August 2026. Notably, the SPP was not underwritten. True North Copper extended its appreciation to all shareholders who participated in the capital raising initiative.
This successful SPP forms part of True North Copper’s broader equity raising efforts, which include an A$18.0 million institutional placement initially announced on 17 August 2026. Tranche 1 of this placement, raising A$12.2 million, settled on 21 August 2026. The remaining A$5.8 million, earmarked as Tranche 2, is subject to shareholder approval, with a vote scheduled for the company’s Annual General Meeting on 21 October 2026. The issue of SPP shares is set for 16 September 2026, with the issue of Tranche 2 Placement shares anticipated for 22 October 2026, following the AGM.
