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TerraCom inks US$1M placement deal with Steains' Sea Honour

TerraCom Ltd.has agreed a US$1 million placement to Hong Kong-based Sea Honour Ltd., the companysaid July 14.

The number of placement shares will be determined by theissue price — the average TerraCom share price over a 30-day trading period — butwill not exceed US$1 million.

The placement will close five business days thereafter.

Sea Honour is a private investment company owned by Anthony Steains,the CEO of Comprador Ltd. and former head of Blackstone Advisory Partnersin Asia.