Forgent Raises Equity to Increase Stake in Australia's Peak Hill Project

02:45 AM EDT, 08/28/2026 (MT Newswires) -- Forgent (FORG.L) said Friday it raised 800,000 pounds sterling through a share placing to fund the acquisition of an additional interest in the Peak Hill Gold-Copper project in Australia, as well as a phase 2 drilling program and working capital. The energy transition company plans to issue 8,888,888,889 new shares at 0.00009 pound each. Subscribers will also receive one warrant for every two placing shares, exercisable at 0.00012 pound per share until Aug. 27, 2028. Forgent also exercised an option to raise its interest in Peak Hill to 99% from 51%, paying $193,940 in cash and issuing 7,440,168,111 new ordinary shares. The phase 2 shallow air-core drilling campaign is scheduled to start on Sept. 1 and will comprise 130 holes for 8,700 meters of drilling.