Potash West (ASX:PWN) reported that, further to its announcement from July 9 2014, it has issued the final 9,429,286 fully paid ordinary shares at $0.035 per share to raise $330,025. In total, the amount raised was $826,275.
As quoted in the press release:
a) The Company issued the shares as a placement under Listing Rule 7.1A as it believed this was the
most efficient mechanism for raising funds at the time.
b) No underwriting arrangements were in place for the Placement.
c) The Company will pay a 6.5% commission on the funds raised.