Kore Potash PLC fundraise of US$900 000
Published by Emilie Grant,
Editorial Assistant
World Fertilizer,
Kore Potash plc, the potash development company with 97% ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located in the Republic of Congo, has announced the successful completion of a share subscription (the Fundraise).
The company has raised approximately US$900 000 through the issue of 25 441 268 new ordinary shares of US$0.001 each in the company (Subscription Shares) to certain existing shareholders as well as new institutional and high net worth investors at a price of 2.76 pence per Subscription Share ("Subscription Price") representing a 15% discount to the closing mid-market price of the Company’s shares of 3.25 pence on Friday 1st November 2024.
The net proceeds from the fundraise will be used to further advance the work that is expected to lead to the signing of an EPC contract for the Kola Potash Project and provide working capital for Kore Potash.
David Hathorn, Chairman, was unable to take part in the fundraise as he is considered by the company to be in possession of unpublished inside information.
Read the article online at: https://www.worldfertilizer.com/project-news/06112024/kore-potash-plc-fundraise-of-us900-000/
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