Technology Metals Australia Limited announced a private placement of 53,333,333 common shares at an issue price of AUD 0.375 per share for gross proceeds of AUD 20,000,000 on September 23, 2021. The transaction will include participation from new investor Resource Capital Fund VII L.P., a fund managed by RCF Management, LLC for AUD 13,500,000 and 18% stake in the company and from a number of high quality institutional investors plus existing and new strategic investors for remaining AUD 6,500,000. The company will issue the total shares in two tranches, including an amount of AUD 13,600,000 in its first tranche and remaining AUD 6,400,000 in its second tranche. New shares will rank pari passu with existing shares. The tranche one is expected to close on October 4, 2021 and second tranche which is subject to shareholder approval is expected to close in Mid November.