South Harz Potash Advances Capital Raise for Expansion

Highlights:

• Successful Share Placement: South Harz Potash Limited (ASX: SHP) has raised A$298,500 through the issuance of 29,850,000 new shares at A$0.01 per share.
• Additional Capital Commitments: The company has secured binding subscriptions for 20,150,000 more shares, including 15,150,000 shares for directors, pending shareholder approval.
• Strategic Expansion Plans: South Harz is progressing with due diligence for the acquisition of the neighboring Sollstedt mine, with an exclusivity extension until July 31, 2025.

Initial Share Placement Secured

South Harz Potash Limited (ASX: SHP) has successfully completed an initial share placement as part of its ongoing capital-raising efforts. At the time of writing, the company has issued 29,850,000 new shares at A$0.01 per share, generating gross proceeds of A$298,500. This issuance was conducted under the company's ASX Listing Rule 7.1A placement capacity.

Further Share Subscriptions in Progress

In addition to the initial placement, South Harz has secured binding commitments for an additional 20,150,000 new shares. This includes 5,000,000 shares allocated to a sophisticated investor, expected to be issued by April 23, 2025, under the same ASX Listing Rule 7.1A. Additionally, 15,150,000 shares will be allocated to company directors or their related entities, subject to shareholder approval at the upcoming general meeting on April 14, 2025.

Strategic Expansion and Due Diligence

As part of its broader growth strategy, South Harz is advancing negotiations for the acquisition of the neighboring Sollstedt mine property from Deusa International GmbH. Due diligence is currently underway, with discussions progressing on key transaction terms. The exclusivity period for these negotiations has now been extended to July 31, 2025.

South Harz's capital raise is expected to support its ongoing development of the Ohmgebirge Potash Project, further strengthening its position in the global potash industry.

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