Shuka Minerals to Issue Shares in Loan Conversion, Invoice Settlement

05:18 AM EDT, 10/20/2026 (MT Newswires) -- Shuka Minerals (SKA.L) will issue 1,583,352 shares at 0.04 pound sterling apiece after an Australian specialist mining investor elected to convert part of the GMI convertible loan. The investor elected to convert its 63,334 pound portion of the loan, according to a Tuesday filing. It also received warrants to subscribe for 1,583,352 new shares at an exercise price of 0.08 pound each, which can be exercised immediately and expire on July 20, 2029. Separately, a creditor of the company agreed to settle an outstanding 61,000 pound invoice through the exploration and development company's issuance of 1,525,000 new shares at 0.04 pound each. It will also receive 1,525,000 warrants to subscribe for new shares on the same terms.