**Summary**
Shuka Minerals Plc, an African-focused mining operator and developer, announced on January 13, 2026, that it has received £815,000 in funding from Gathoni Muchai Investments Limited (GMI) as part of an increased loan agreement. This brings the total drawn funds to £1.115 million, with £385,000 remaining undrawn. The unsecured, non-convertible loan carries a 5% annual interest rate, and a 3% establishment fee will be settled via the issuance of Shuka shares to GMI at 8 pence per share.
The funding will be used to complete the acquisition of Leopard Exploration and Mining Limited (LEM) and the Kabwe Zinc Mine in Zambia. Shuka is arranging payment of the remaining $1.05 million in cash consideration to LEM vendors, along with the issuance of 22,275,588 Consideration Shares and 1,555,556 Consideration warrants. The shares are priced at 7.817 pence each and subject to a 1-year lock-in restriction.
Upon completion, Shuka will own 100% of LEM and the Kabwe Mine. The company has applied for the admission of the Consideration Shares to trading on the London Stock Exchanges AIM market, expected to commence around January 15, 2026. Post-admission, Shukas total issued share capital will be 95,498,639 ordinary shares. The announcement complies with Market Abuse Regulation (MAR) requirements and includes contact details for enquiries.