Manuka Resources Limited (ASX: MKR) announced that it has secured commitments to raise AU$1.0 million through the issuance of Convertible Notes, presenting a remarkable opportunity for investors. The conversion price will reflect a robust 70% premium over the closing price of 3.5 cents per share on 28 November, indicating a strong and positive outlook for share value growth. This capital infusion will bolster the company's balance sheet and significantly enhance its operational capabilities as it seeks to refinance core debt facilities and advance the restart of gold production at Mt Boppy.
The Convertible Note issuance will be strategically executed in two tranches, perfectly aligned with its plans for extending or refinancing the TransAsia Capital Finance facility. The first tranche, designed to secure AU$500,000, is set for completion today. Meanwhile, the second tranche aims to raise an additional AU$ 500,000 and is contingent upon the successful extension or refinancing of the repayment date with TransAsia, currently due on 31 January 2025. This approach ensures a well-structured and impactful financial strategy that paves the way for Manuka Resources' continued growth and success.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
