SQX Resources Limited has launched a fully underwritten $2,468,000 non-renounceable entitlement offer to accelerate exploration across its project portfolio.

Under the terms of the transaction, eligible shareholders will receive two new shares for every three existing shares held on the record date of August 26, 2026. The new shares will be issued at an offer price of $0.04 each. Alpine Capital Pty Ltd is fully underwriting the capital raising, guaranteeing the full funding amount, while company directors have agreed to sub-underwrite up to $130,000 of the entitlement. In consideration for its underwriting services, Alpine Capital will receive management and selling fees alongside up to 12,340,000 options exercisable at $0.10 within a three-year term.

The proceeds from the capital raising, combined with $583,249 in existing cash as of June 30, 2026, establish a total funding pool of $3,051,249. These financial resources will directly support ongoing exploration programs and provide working capital flexibility.

The budget allocates $1,200,000 to exploration at the Williams project, while the Red Bird gold project is earmarked to receive $800,000. An additional $200,000 is directed toward exploration at the Ollenburgs prospect, and $100,000 is set aside for the assessment of new projects. Working capital will absorb $583,169, with the remaining $168,080 dedicated to covering the costs of the entitlement offer.

The company expanded its operational footprint into North America in October 2025 by entering a binding agreement to acquire an 80% interest in the Williams and Red Bird projects. Building on that foundation, SQX completed a maiden 2,500-metre reverse circulation drilling program at the Red Bird Gold Project in Arizona in February 2026.

Eligible shareholders participating in the offer may also apply for additional new shares in excess of their entitlement through a shortfall facility, subject to director and underwriter discretion.

The entitlement offer is scheduled to open on August 31, 2026, and will close at 5:00 pm Sydney time on September 14, 2026, with trading in the new shares expected to commence on September 22, 2026.

Read the full announcement: Fully Underwritten $2.47M Non-Renounceable Entitlement Offer