Institutional Placement to achieveFinancial CloseSalt Lake...

Institutional Placement to achieve
Financial Close
Salt Lake Potash Limited (SO4 or the Company) is pleased to announce
that it has received binding commitments for a successful share
placement to institutional shareholders and investors to raise up to
A$52.0 million. This equity raising enables the first drawdown of
US$105 million under the Taurus/CEFC US$138 million Syndicated
Facility Agreement in December 2020.

The above is the 11/12/2020 ann after the 27/11/2020 trading halt. Following the first drawdown, there was a downward gap from 0.48 to around 0.37, and the gap was filled in less than two months. Based on the 4/3/2021 Ann, this capital raising will enable the company to draw down the usa 33 million balance after the first drawdown. This is part of the funding agreement, and its impact would be limited as the size accounts for 30% of the first drawdown that caused a 0.11 downward revision while it is used for premium product development. No drama!