Far Northern Resources Limited (ASX:FNR) has notified the market of the issue of 4,500,000 unlisted options with an exercise price of AUD $0.25 and an expiry date of 9 November 2028, issued on 9 November 2026 for nil cash consideration as part of a placement transaction previously announced to ASX.

Key Points

  • 4,500,000 unlisted options were issued on 9 November 2026 with a 25 cent exercise price and expiry of 9 November 2028
  • The options were issued for nil cash consideration as part of a previously announced placement
  • The securities are not quoted and are not intended to be quoted on ASX
  • Upon exercise, the options convert into FNR ordinary fully paid shares
  • Following the issue, FNR's total quoted ordinary fully paid shares on issue stand at 71,461,135

Unlisted Option Issue Terms

According to the filing lodged on 10 November 2026, Far Northern Resources issued 4,500,000 unlisted options on 9 November 2026. The options carry an exercise price of AUD $0.25 each and expire on 9 November 2028. The securities form a new class, with an ASX security code yet to be confirmed. The options were issued for nil consideration and are not intended to be quoted on the ASX. Upon exercise or conversion, the new class of options will result in the issue of FNR ordinary fully paid shares.

Transaction Background and Previous Disclosure

The filing states the options were issued as part of a transaction previously announced to the market via an Appendix 3B lodged on 4 November 2026, which was described as a placement or other type of issue. The company confirmed in the Appendix 3G notification that there are no further issues of securities yet to take place to complete the transaction referred to in that earlier Appendix 3B. The company has also confirmed it has received confirmation from ASX that the terms of the securities are appropriate and equitable under listing rule 6.1.

Securities on Issue Following the Transaction

Following the issue of the unlisted options, Far Northern Resources' total quoted securities on issue comprise 71,461,135 ordinary fully paid shares. Among unquoted securities, the company now has 500,000 options expiring 12 April 2027 with an exercise price of $0.30, identified under the code FNRAF, as well as the newly issued 4,500,000 unlisted options expiring 9 November 2028 with an exercise price of $0.25. The new class of options is pending an ASX security code assignment.