A$2.61 Million Placement Includes 145 Million Shares and Options

Surefire Sets Out A$2.61 Million Funding Plan

Surefire Resources NL (ASX:SRN) is turning to the market for up to A$2.61 million to advance its Yidby Gold Project, continue work across its Western Australian portfolio and support working capital. The proposed funding combines a placement to sophisticated and professional investors with a separate option offer to eligible shareholders.

The placement will issue up to 145 million shares at A$0.018 each, with one free attaching option for every share issued. The options will be exercisable at A$0.05 and expire on 30 June 2029, giving the transaction a substantial securities component beyond the immediate cash injection.

Second Tranche Requires Shareholder Approval

Surefire plans to issue up to 45 million placement shares under its existing ASX Listing Rule 7.1 and 7.1A capacities. A further 100 million shares, together with all of the placement options, will require shareholder approval at a general meeting scheduled for 18 November 2026.

The first tranche is expected to provide funds around 15 October, while proceeds from the second tranche are expected around 18 November, assuming the necessary approval is secured. The staged structure means the full A$2.61 million is not yet unconditional.

Existing Shareholders Offered Options

Eligible shareholders registered in Australia or New Zealand at 5:00pm AWST on 15 October will be offered one new option for every two shares held. The non-renounceable offer is priced at A$0.001 per option and aims to raise up to A$90,500, with the new options carrying the same terms as those attached to the placement shares.

Because the entitlement cannot be traded, shareholders who do not participate will not be able to sell their entitlement. The announcement does not disclose the company’s existing share count, so the eventual percentage dilution from the placement cannot yet be assessed from the filing alone.

Broker Fees Add More Options

CPS Capital Group will receive a 2% management fee and a 4% fee on placement funds, both plus applicable GST, as well as 31 million broker options subject to shareholder approval. It will also receive 6% of funds raised under the entitlement offer, plus GST.

The immediate use of funds is clear, but the project allocation is not broken down between Yidby, the company’s other Western Australian assets and working capital. The prospectus, expected to be lodged on 9 October, and the shareholder vote will therefore be important checkpoints before the full capital structure is known.