AuKing Mining Secures Over AU$9 Million Option Underwriting Deal With GBA Capital; Shares Up 5%
MT Newswires Live
Aug 05
AuKing Mining (ASX:AKN) entered into an option underwriting agreement with GBA Capital to fully underwrite the exercise of up to 304.7 million unlisted 2027 options at AU$0.03 each, potentially raising over AU$9.1 million, according to a Wednesday filing with the Australian bourse.
The agreement provides funding certainty, with GBA committed to subscribing for any shortfall shares if the options are not exercised by the April 30, 2027 expiry date, per the filing.
The company expects all shares arising from option exercises and any underwriting shortfall to be issued by May 7, 2027, under standard commercial terms, the filing added.
The company's shares rose around 5% in recent Wednesday trade.
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