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.
Potash West NL (ASX:PWN,OTCPINK:PWNNY) dominates mineral tenure in Western Australia, one of the world’s largest glauconite deposits, with 12 exploration licenses and applications covering an area of more than 2,600 km2.
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