Fortress Minerals Limited said on Jul, 10 2026 that it will participate in, and partially underwrite, Norwest Minerals’ pro-rata non-renounceable entitlement offer of 270.38 million new shares at AU$0.007 each. The company is entitled to subscribe for 15.06 million shares and has agreed to underwrite up to 178.47 million additional shares that may be left unsubscribed.

If Fortress Minerals takes up the full shortfall, its cash commitment would be about 1.35 million Singapore dollars, based on the offer price, which represents a 22.2% discount to Norwest’s last closing price on Jul, 6 2026. In consideration for underwriting, Fortress will receive a fee equal to 6% of the amount it subscribes.

Norwest intends to deploy the roughly 1.9 million Singapore dollars expected from the offer to advance technical studies, permitting and engineering work on its Bulgera Gold project, as well as to fund other project maintenance, administration and working capital.

Fortress Minerals said the deal is a non-discloseable transaction under Singapore’s Catalist rules and is not classified as an interested-person transaction, although chief executive Dato’ Sri Ivan Chee Yew Fei and non-executive director Loong Ching Hong are also directors of Norwest Minerals and together hold 13.6% of its shares.

The company added that the agreement is not expected to materially affect its net asset value or earnings per share for the financial year ending Feb, 28 2027, and advised shareholders to exercise caution while trading its shares.