RNS Number : 8117G
Salt Lake Potash Limited
27 November 2020
|
27 November 2020
|
AIM/ASX Code: SO4
|
|
SALT LAKE POTASH LIMITED
Funding Update
|
Further to its announcement of a trading halt on the Australian Securities Exchange (ASX) earlier today, Salt Lake Potash Limited ("Company") advises that it is substantially advanced in satisfying the remaining conditions precedent to enable draw down of the debt financing ("Main Facility") as announced on 5 August 2020. It is expected that a further equity fundraising will be required to satisfy the cost to complete condition and enable drawdown. The details of the fundraising are currently being finalised and a further announcement will be made as appropriate. The Company anticipates that the bridge facility will be extended beyond the end of November and repaid from proceeds of the Main Facility upon initial drawdown.
Completion of the fundraising will enable the Company to deliver the Lake Way Project on schedule, with first Sulphate of Potash (SOP) production expected as previously announced, in the March quarter 2021.
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 information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END
MSCFLFVELRLDFII
|
