Potash West Completes $800,000 Placement

Potash West NL (ASX:PWN) has completed a placement to raise $800,000 before costs. This placement was made to clients of Helmsec Global Capital and other ”sophisticated investors”. Potash West will direct proceeds from the placement towards ongoing project development activities at its world-class Dandaragan Trough projects, located near Perth in Western Australia.

As quoted in the press release:

Under the placement the Company will issue approximately 23 million fully paid ordinary shares to new and existing shareholders who qualify under section 708 of the Corporations Act. The placement is within the Company’s available 15% capacity as defined under ASX listing rule 7.1 and its 10% capacity as defined under listing rule 7.1A. Specific shareholder approval is not required.

Click here to read the Potash West NL (ASX:PWN) press release
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