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Salt Lake Potash Ltd - Funding Update & Short Extension to ASX Suspension

RNS Number : 1494I
Salt Lake Potash Limited
10 December 2020
 

10 December 2020

 

AIM/ASX Code: SO4

 

 

SALT LAKE POTASH LIMITED

Funding Update and ASX Voluntary Suspension Extension

 

 

Salt Lake Potash Limited ("Company") is pleased to advise that arrangements for a capital raising intended to raise approximately A$48 million at A$0.40 per share by way of placement with the ability to take oversubscriptions, and a share purchase plan to raise up to A$5 million are progressing well.  The Company expects to release an announcement regarding the results of the capital raising and satisfaction of the conditions precedent to enable drawdown of its debt financing, on 11 December 2020.

The Company has requested a one day extension to the voluntary suspension of trading on ASX until the opening of trade on ASX on 11 December 2020. Trading in the Company's ordinary securities will continue on AIM during this period.

For further information please visit www.so4.com.au or contact:

 

Tony Swiericzuk / Richard Knights

Salt Lake Potash Limited

Tel: +61 8 6559 5800

Colin Aaronson / Seamus Fricker

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0) 20 7383 5100

Derrick Lee / Peter Lynch

Cenkos Securities plc (Joint Broker)

Tel: +44 (0) 131 220 6939

Rupert Fane / Ernest Bell

Hannam & Partners (Joint Broker)

Tel: +44 (0) 20 7907 8500

 

This announcement has been authorised for release by the Board of Directors.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Forward Looking Statements 

This announcement may include forward-looking statements. These forward-looking statements are based on Salt Lake Potash Limited's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Salt Lake Potash Limited, which could cause actual results to differ materially from such statements. Salt Lake Potash Limited makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, save where required by law or regulation, to reflect the circumstances or events after the date of that announcement.

 

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Quick facts: Salt Lake Potash Ltd

Price: -

Market: AIM
Market Cap: -
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