Results of Private Placing
Kore Potash plc
(Incorporated in England and Wales)
Registration number 10933682
ASX share code: KP2
AIM share code: KP2
JSE share code:KP2
(“Kore Potash” or the “Company”)
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR ANY
JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION.
RESULTS OF PRIVATE PLACING IN RESPECT OF THE SECONDARY INWARD LISTING OF
KORE POTASH ON THE MAIN BOARD OF THE JSE LIMITED
Kore Potash, the potash exploration and development company whose flagship asset is the Kola
Project (“Kola” or the “Project”), located in the Company’s 97% owned Sintoukola Potash Project in
the Republic of Congo, is pleased to announce it has raised gross aggregate proceeds of US$13.14m
(c.ZAR154m) through the placing and direct subscription of new ordinary shares in the Company and
a convertible loan note.
A total of US$12.89m (c.ZAR151m) has been raised from existing and new investors (“Placees”)
through the placing and direct subscription of 83,523,344 ordinary shares (“Placing Shares”) in the
Company at a placing price of AUS$0.20 (ZAR1.8179)per new Ordinary Share, which is a 67%
premium to the Company’s last closing share price on the ASX (collectively the “Placing”). In
addition, the Company has raised US$250,000 (c. ZAR3m) from the Chairman, Mr David Hathorn,
through a convertible loan note that will convert into Ordinary Shares on the same terms as the
Placing Shares, upon shareholder approval at the next general meeting of the Company (collectively
the “Fundraise”). The Placees have been granted 12,894,659 equity warrants on the basis of one
equity warrant for every US$1.00 invested in the Placing exercisable at AUS$0.30 for one ordinary
share with a 3 year subscription period. To the extent that approval is required from the Financial
Surveillance Department of the South African Reserve Bank for the issue of the equity warrants, the
equity warrants will only be issued upon receipt of such approval.
Application has been made for all Ordinary Shares in the Company, including the Placing Shares, to
be admitted to trading on the JSE at 9.00am (SA) and on AIM at 8.00 a.m. (UK) on 29 March 2018.
Additionally, the Company is pleased to announce the publication of its AIM Admission Document
which will be available from the Kore Potash website: https://www.korepotash.com/ from 08.00
a.m. (UK) today.
26 March 2018
JSE Sponsor, Bookrunner and Financial Adviser to Kore Potash
Rencap Securities (Pty) Limited
South African legal adviser to Kore Potash
DLA Piper Advisory Services (Pty) Ltd
This announcement does not constitute an offer to sell or the solicitation of an offer to buy the
Ordinary Shares, nor will there be any sale of the Ordinary Shares in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the registration or qualification under the
securities laws of such jurisdiction.
This document contains certain statements that are neither reported financial results nor other
historical information. These statements are forward-looking in nature and are subject to risks and
Actual future results may differ materially from those expressed in or implied by these statements.
Many of these risks and uncertainties relate to factors that are beyond the Group's ability to control
or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of
other market participants, the actions of government regulators and other risk factors such as the
Group's ability to continue to obtain financing to meet its liquidity needs, changes in the political,
social and regulatory framework in which the Group operates or in economic or technological trends
or conditions, including inflation and consumer confidence, on a global, regional or national basis.
Readers are cautioned not to place undue reliance on these forward-looking statements, which
apply only as of the date of this document. The Group does not undertake any obligation to publicly
release any revisions to these forward-looking statements to reflect events or circumstances after
the date of this document. Information contained in this document relating to the Group should not
be relied upon as a guide to future performance.
This announcement has also been released on the SENS system of the Johannesburg Stock Exchange.
Date: 26/03/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
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