• Raised approximately $8.0 million through fully underwritten entitlement offer
• Issued additional shares to satisfy underwriting commitments and creditor payments
• Issued options to sub-underwriters as part of the offer

Manuka Resources Limited (ASX: MKR) has completed its fully underwritten non-renounceable entitlement offer, raising approximately $8.0 million (before costs). The company received valid applications for 25,185,214 new shares, raising $1,082,966.33. The remaining 160,051,115 new shares, effectively raising a further $6,882,197.95, will be issued to the sub-underwriters. In addition to the new shares issued under the entitlement offer, the company is issuing a further 26,531,629 new shares to the sub-underwriters to satisfy the outstanding balance of their aggregate sub-underwriting commitments, and 9,088,668 new shares to certain creditors in satisfaction of outstanding fees and other amounts owing. The company will also issue 10,960,558 new shares to the lead manager and sub-underwriters in lieu of their cash underwriting and sub-underwriting fees. The company has also agreed to issue each of the sub-underwriters 20,000,000 options, each of which is exercisable into a new share at $0.10 at any time or before 5pm (Sydney time) on the third anniversary of the date of their issue.