Tusker Minerals Ltd (ASX: TSK), ACN 663 592 318, a mineral exploration company with projects in Malawi and Cameroon focused on rare earth elements and other critical metals, has announced a non-renounceable pro-rata bonus issue of Loyalty Options to its eligible shareholders. This initiative aims to incentivise ongoing shareholder support and provide them with a greater opportunity to participate in the company’s potential future success. The company lodged a prospectus for the offer on Friday, 17 April 2026.
Under the Loyalty Options Offer, eligible shareholders will receive one quoted Loyalty Option for every seven shares held on the Record Date, at a nil issue price. A maximum of approximately 15,251,040 Loyalty Options are slated for issuance. Shareholders are not required to take any action to receive their entitlements. Each Loyalty Option will have an exercise price of $0.15 and is set to expire three years from its issue date. Tusker Minerals has stated its intention to apply for Official Quotation of these Loyalty Options on the ASX within seven days of the prospectus date.
While the issuance of the Loyalty Options themselves will not raise any immediate funds for the company due to the nil issue price, their future exercise could potentially inject significant capital. If all 15,251,040 Loyalty Options are exercised, Tusker Minerals could receive approximately $2,287,656. These funds are intended to be applied towards the company’s existing business activities, general working capital purposes, and to cover the costs associated with the Loyalty Options Offer. The company advises that the Loyalty Options should be considered speculative, and shareholders may experience dilution if these options are subsequently exercised.
