(MENAFN- ProactiveInvestors)
() has raised $600000 through a placement priced at $0.01 to sophisticated investors.
The company has also commenced a 1 for 6 non-renounceable rights issue to existing shareholders to raise up about $553816.
Proceeds will be used its present exploration and development activity.
In April the company acquired the Sergi Potash Project within the strategically important Sergipe Basin which compliments its existing Capela Potash Project in Brazil.
The company also plans to pursue a listing on London’s market.
It has retained a suite of professional advisers including Mirabaud Securities LLP as lead manager and broker and Strand Hanson Limited as Nomad and Financial Advisor.
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