Potash development company Kore Potash has completed a share subscription, raising about $900 000 through the issue of 25.4-million new ordinary shares.
Kore has 97% ownership of the Kola and DX potash projects in the Sintoukola basin, in Congo-Brazzaville.
The net proceeds from the fundraise will be used to further advance the work that is expected to lead to the signing of an engineering, procurement and construction (EPC) contract for the Kola project and provide working capital for Kore.
“We are very pleased with the support from our existing shareholders as well as of our new investors that we have continued to see. This is a very exciting and significant time for the company as we look to progress the Kola potash project towards signing the EPC contract,” says CEO Andre Baya.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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