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https://www.copyright link/street-talk/kalium-s-brokers-ask-cornerstones-to-step-up-20200519-p54uhm

Kalium's brokers ask cornerstones to step up
Sarah Thompson, Anthony Macdonald and Tim Boyd
May 19, 2020 – 5.08pm

It's go time at potash play Kalium Lakes.


Kalium is expecting to launch its $61 million raising on Thursday. AFR

Street Talk understands after more than two months off the boards, Kalium's brokers Foster Stockbroking and Morgans sent around a draft term sheet to fundies for the company's $61 million raising on Tuesday afternoon.

The brokers were calling for pre-commitments from institutional investors by close of business on Wednesday, with a view to launch the placement and underwritten accelerated non-renounceable entitlement offer on Thursday.

The offer was priced at 15¢ a share, almost a 70 per cent discount to when Kalium's shares last traded two months ago.

Money raised would go towards finishing construction and the commissioning of Kalium's Western Australian-based project Beyondie, which will produce sulphate of potash, a premium fertiliser.