Argonaut acted as Joint Lead Manager to successfully raise $13.0 million for Salt Lake Potash Limited (ASX: SO4) (“SO4” or “the Company”) via a Placement at an issue price of $0.42 per share. The Company raised funds from existing shareholders as well as new institutional and sophisticated investors across Australia, Asia and United Kingdom.
With the recent appointment of Tony Swiericzuk as CEO the significant demand provides a strong endorsement of the new project team and SO4’s world class Lake Way Sulphate of Potash project. Proceeds of the Placement will fund the ongoing development of on-lake infrastructure, exploration and feasibility studies. The Company intends to be Australia’s first commercial scale producer of sulphate of potash.
Argonaut is delighted with the results of the Placement and looks forward to continuing to support SO4 into the future.
Additional information regarding Salt Lake Potash can be found on the Company’s website at www.so4.com.au