Business
Kola Financing Term Sheet Update
Kola Financing Term Sheet Update.
About this update from Kore Potash Plc
[{"type":"text","content":"\n\n \n\n\n\n\n\n\n\n\n\n\n\n \n \n \n \n\n01 April 2025\nKore Potash Plc\n(\"Kore Potash\" or the \"Company\")\n \nKola financing term sheet update\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\"), announces that further to the signing of the EPC Contract last year and the announcement of the Kola Project Optimised DFS on 27 February 2025, the Summit Consortium was expected to deliver a non-binding financing term sheet for the Kola Project by the end of March 2025.\n \nWhile having made very good progress, the Consortium was unable to finalize the Term Sheet by the end of March as targeted. The consortium has advised Kore that they need more time to complete their internal process which has been impacted by the Ramadan season and Eid celebrations.\n \nThe Summit Consortium is now expected to deliver the term sheet before the end of this month and hopefully by mid April 2025.\n \n \n \nMarket Abuse Regulation\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\n \nEnquiries:\n \n \n\n\n\n\nKore Potash\n\n\nTel: +44 (0) 20 3963 1776\n \n\n\n\n\nAndre Baya - CEO\n\n\n\n\n\n\n\nAndrey Maruta - CFO\n\n\n\n\n\n\n\n \nSP Angel - Nomad, Joint Broker and Joint Bookrunner\n\n\n \nTel: +44 (0) 20 7470 0470\n\n\n\n\nEwan Leggat\nCharlie Bouverat\n \n\n\n\n\n\n\n\nShore Capital - Joint Broker and Joint Bookrunner\n\n\nTel: +44 (0) 20 7408 4050\n\n\n\n\nToby Gibbs\nJames Thomas\n\n\n\n\n\n\n\nTavistock Communications\n\n\n \nTel: +44 (0) 20 7920 3150\n\n\n\n\nEmily Moss\nNick Elwes\n \n\n\n\n\n\n\n\nQuestco Corporate Advisory - JSE Sponsor\nDone Hattingh\n\n\nTel: +27 (63) 482 3802\n \n\n\n\n\n \n\n","length":6959,"tagName":"div"}]