Business
Fundraise to raise approximately US$10.6 million
Fundraise to raise approximately US$10.6 million.
About this update from Kore Potash Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"UK MAR\") AND THE SOUTH AFRICAN FINANCIAL MARKETS ACT 19 2012.\n \nTHIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, NEW ZEALAND, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nTHE INFORMATION CONTAINED IN THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFERING OF SECURITIES FOR SALE IN THE UNITED STATES OF AMERICA AND NO SECURITIES HAVE BEEN OR WILL BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT 1933, AS AMENDED OR UNDER THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION IN THE UNITED STATES OF AMERICA.\n \nTHIS ANNOUNCEMENT MAY BE RELEASED, PUBLISHED OR DISTRIBUTED BY THE COMPANY FOR INFORMATION PURPOSES ONLY IN ACCORDANCE WITH ITS CONTINUOUS DISCLOSURE OBLIGATIONS UNDER APPLICABLE LAWS INCLUDING THE REQUIREMENTS OF JSE LIMITED AND THE AUSTRALIAN SECURITIES EXCHANGE.\n \nFor immediate release\n \n21 March 2025\n \nKore Potash Plc\n(\"Kore Potash\" or the \"Company\")\nFundraise to raise approximately US$10.6 million (£8.1 million)\n \nKore Potash, the potash exploration and development company whose flagship asset is the 97%-owned Sintoukola Potash Project (\"Kola\" or the \"Kola Project\"), located within the Republic of Congo (\"RoC\"), is pleased to announce it has conditionally raised approximately US$10.1 million (£7.7 million), before expenses, by way of a placing (the \"Placing\") and direct subscriptions (the \"Subscription\") of new ordinary shares (\"New Ordinary Shares\") in the Company at a price of 1.7 pence per share (the \"Placing Price\") with certain eligible existing shareholders and new institutional and other investors (the Placing and the Subscription together being the \"Fundraise\").\n \nKore Potash is currently in a close period that restricts Directors and senior management from trading in the Company's shares pending the notification of the audited results for the year ended 31 December 2024 (\"Results\...