South Harz Potash Ltd (AU:SHP) has released an update.
South Harz Potash Ltd announces a capital raise of up to A$4 million, comprised of a A$1.03 million placement to institutional and sophisticated investors and a proposed A$2.97 million rights issue to existing shareholders. The funds are intended to advance the Ohmgebirge Potash Development, including due diligence for the Sollstedt Mine acquisition and other strategic and operational activities. Directors of the company have participated significantly in the placement, which is priced at a discount to recent trading values.
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