Business
Results of Placing and Subscription
Results of Placing and Subscription.
About this update from Kore Potash Plc
[{"type":"text","content":"\n \nRNS Number : 2981C Kore Potash PLC 14 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.\n \nTHIS ANNOUNCEMENT 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 \n14 June 2019\nKore Potash Plc\n(\"Kore Potash\" or the \"Company\")\nResults of Placing and Subscription\n \nKore Potash plc, 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 the successful completion of the Placing and Subscription (the \"Fundraise\") of approximately US$13 million, as announced on 13 June 2019. \n \nCanaccord Genuity Limited (\"Canaccord\") and Shore Capital Stockbrokers (\"Shore Capital\") have acted as joint bookrunners to the Company in the Fundraise. \n \nHighlights \n \n· The Company has raised, in aggregate, approximately US$13 million at a price of 1.6p per new Ordinary Share (the \"Placing Price\").\n· 381,098,890 new Ordinary Shares have been placed with new and existing institutional investors at the Placing Price (the \"Placing Shares\"). In addition, certain new and existing shareholders have subscribed directly with the Company for a total of 265,815,364 new Ordinary S...