Manuka Resources (ASX:MKR) has issued 35.05 million shares and 27.83 million unquoted options to repay convertible and short-term loans.
Shares were issued at a price of $0.043 per share. Unquoted options were issued over unissued shares.
The convertible loans transaction comprises 13.91 million shares upon conversion of nine convertible loans, and 27.83 million unquoted options on the basis of two free options per every one share issued.
Manuka also issued 21.14 million shares at the aforementioned issue price to pay off a short-term loan facility. There were no unquoted options attached to these shares.
Manuka Resources is an Australian mining and exploration company with key assets located in the Cobar Basin in central west New South Wales.
Write to Maddison Elliott at Mining.com.au
Images: Manuka Resources
