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The latest announcement is out from Manuka Resources Ltd ( (AU:MKR) ).
Manuka Resources Limited has entered into an underwriting agreement with Claymore Capital to ensure that up to 11,335,995 unexercised MKRAZ options, expiring on 15 May 2026 at an exercise price of $0.06, are fully exercised. On full exercise of all options, the company expects to issue 42,017,242 new shares and raise about $2.5 million, with the underwriter not being a related party and receiving no fees under the deal.
Claymore Capital has arranged sub-underwriting with a group of sophisticated and professional investors, giving it flexibility to allocate the resulting shares while spreading the funding commitment. The company plans to issue all underwritten and exercised-option shares by 22 May 2026, a move that secures additional capital for Manuka’s operations while clarifying potential dilution and ownership changes for existing shareholders.
More about Manuka Resources Ltd
Manuka Resources Limited is an Australian resources company listed on the ASX that focuses on developing and operating mining assets. The company raises capital through listed options and share issues to support its resource projects and maintain its presence in the Australian mining and resources sector.
Learn more about MKR stock on TipRanks’ Stock Analysis page.