Our company, AKORA Resources Limited, has announced a capital raising initiative of approximately $3.3 million through a placement and entitlement offer. This funding will be used for essential permitting, mine development activities, project financing, community engagement, and general working capital needs. Existing shareholders are encouraged to participate in the entitlement offer, underscoring confidence in our strategy and the high-quality Bekisopa iron ore project. Iron ore, especially high-grade ore like Bekisopa's, remains crucial in global infrastructure and energy transitions, positioning AKORA well for future demand.

The placement of new shares to sophisticated investors at 8 cents each is expected to raise $1.6 million, while the entitlement offer allows eligible shareholders to subscribe for new shares at the same price, potentially raising an additional $1.7 million. The offer price represents a discount to recent trading prices, providing an attractive opportunity for investors. Shareholders can also apply for additional shares beyond their entitlement through the shortfall offer.

The entitlement offer opens on 15 May 2026, with indicative key dates outlined for shareholders' reference. We invite shareholders to review the offer booklet and accompanying materials for comprehensive information. We are excited about the path ahead, with a clear focus on delivering value to our shareholders. If you have any questions about this announcement, please feel free to reach out to management for further clarification. Your continued support and participation are valued as we move forward with our growth initiatives.