News: DNK Danakali Enters $50 Mln Strategic Investment Agreement With Africa Finance Corporation

Dec 3 (Reuters) - Danakali Ltd (DNK) :

• US$50M STRATEGIC INVESTMENT FROM AFC
• ON TRACK FOR PRODUCTION DURING 2022
• PLACEMENT WILL BE PART OF OVERALL FUNDING PACKAGE USED FOR DEVELOPMENT AND CONSTRUCTION OF COLLULI SULPHATE OF POTASH PROJECT
• PLACEMENT FACILITATES COMMENCEMENT OF PROJECT EXECUTION ACTIVITIES WHICH PLACES COLLULI ON TRACK FOR PRODUCTION DURING 2022
• PLACEMENT TO BE UNDERTAKEN IN 2 TRANCHES, FIRST TRANCHE TO CONSIST OF ABOUT 53 MILLION NEW SHARES ISSUED TO AFC AT PRICE OF $0.60 PER SHARE
• SECOND TRANCHE TO CONSIST OF ABOUT 70 MILLION NEW SHARES AT SAME ISSUE PRICE AS TRANCHE 1