Business
Proposed Fundraise to raise approx US$13m
Proposed Fundraise to raise approx US$13m.
About this update from Kore Potash Plc
[{"type":"text","content":"\n \nRNS Number : 1648C Kore Potash PLC 13 June 2019 \n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 AND THE SOUTH AFRICAN FINANCIAL MARKETS ACT 2012.\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 THE JOHANNESBURG STOCK EXCHANGE AND THE AUSTRALIAN SECURITIES EXCHANGE.\n \nFor immediate release\n \n13 June 2019\n \nKore Potash Plc \n(\"Kore Potash\" or the \"Company\")\nProposed Fundraise to raise approximately US$13 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\"), today announces its intention to raise approximately US$13 million, before expenses, by way of a conditional placing (the \"Placing\") and direct subscriptions (\"Subscriptions\") of new ordinary shares (\"Ordinary Shares\") in the Company with certain eligible existing shareholders and new institutional and other investors (the Placing and the Subscriptions together being the \"Proposed Fundraise\"). \n \nCanaccord Genuity Limited (\"Canaccord\") and Shore Capital Stockbrokers Limited (\"Shore Capital\") are acting as joint bookrunners (the \"Joint Bookrunners\") in connection with the Placing. \n \nHighlights \n \n· The Company intends to raise approximately US$13 million in the Proposed Fundraise.\n· The co...