Turnium Technology Group Launches C$6 Million Private Placement to Fund Growth and Reduce Debt

Rmr Science Technologies ( (TSE:TTGI) ) has shared an announcement.

Turnium Technology Group Inc. plans to raise up to C$6 million through a non-brokered private placement of up to 85.7 million units priced at C$0.07, each comprising one common share and a half warrant exercisable at C$0.10 for three years, subject to TSX Venture Exchange approval and standard hold periods. Proceeds will be used to retire about C$2.5 million of debt and fund roughly C$3.5 million in working capital to support growth initiatives such as strategic partnerships, expanded sales and marketing, and the rollout of its NexNet SD-WAN and Insentra services across its more than 280 partner channel, reinforcing its capital structure and partner-focused growth strategy.

More about Rmr Science Technologies

Turnium Technology Group Inc. is a Vancouver-based provider of Technology-as-a-Service solutions and channel-only IT services. The company acquires and integrates complementary businesses into a global partner-led platform, offering white-labelled connectivity, cloud and communications technologies, along with deployment, hardware, support and go-to-market enablement for ISPs, MSPs and other IT providers.

Average Trading Volume: 133,791

Technical Sentiment Signal: Sell

Current Market Cap: C$13.42M

For detailed information about TTGI stock, go to TipRanks’ Stock Analysis page.