Highfield Resources announced a successful equity raising of AU$13 million

Highfield Resources Limited (ASX: HFR) announced that it has received firm commitments from sophisticated, professional and institutional investors for placing ordinary shares of the company at an issue price of AU$0.62 per share to raise AU$13 million. The placement was oversubscribed with massive support from existing and new shareholders, including high-quality domestic and offshore-based institutional investors.

The placement funds will be used to finalise the project finance and other strategic alternatives to complete the construction funding. It will fund early work activities at the Muga Potash Mine and general working capital requirements, and corporate costs.

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