APC Raises $2 M from Placement and Announces $3.15M Rights Issue

  • May 02, 2020 03:08 AM AEST
  • Team Kalkine

Gold MTF non-AMP

Australian Potash Ltd (ASX:APC) has received firm commitments to raise $2 million through placements of 40 million shares at the price of 5 cents each. APC has also planned to undertake pro-rata renounceable rights issue to raise up to $3.15 million before costs on the same terms as placement.

The firm has planned to apply the funds raised from placement and rights issue towards advancement of its current front-end engineering design activities at its Lake Wells Sulphate of Potash Project. With NAIF conducting due diligence on the project, the Project Financing program has also commenced with financial providers in Australia and abroad.

 


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