Australian Potash welcomes strong support for $10 million placement
Australian Potash Ltd s (ASX:APC) Matt Shackleton speaks to Proactive s Andrew Scott after receiving firm commitments from global institutional, professional and sophisticated investors for a $10 million placement at 14 cents per share. The funds raised will go towards pre-development activities at the Lake Wells SOP project ahead of a Final Investment Decision as well as a maiden diamond drill program at its Laverton Downs nickel sulphide project.
Quick facts: Australian Potash Ltd
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Australian Potash Ltd reels in $10 million to support pre-development activities at Lake Wells SOP Project
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Australian Potash Ltd granted trading halt with capital raising announcement pending
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Australian Potash directors demonstrate confidence in potash strategy by acquiring more shares
The company has been buoyed by a strong show of support from prominent Western Australian mining figure Mark Creasy whose investment vehicle Yandal Pty Ltd has exercised 100% of its unlisted options. Yandal Pty Ltd holds a 7.8% in APC and is APC’s largest shareholder.
Australian Potash Ltd (ASX:APC) directors have demonstrated their confidence in the company’s potash strategy by acquiring more shares.
Managing director and CEO Matt Shackleton increased his holding to 8.52 million shares following the purchase of shares worth $45,946.50 in a rights issue and non-executive chairman Jim Walker added shares worth $59,999.94 by participating in a placement.