Reward Minerals Secures AU$2.3 Million to Advance Beyondie Potash Plant Acquisition

Reward Minerals Limited (ASX: RWD) has secured firm commitments from sophisticated investors to raise AU$2.3 million via a two-tranche placement. The funds will support the acquisition of the Beyondie Potash Plant and development of new processing technology, which could revolutionize the global Potassium Sulphate (SOP) industry. CEO Lorry Hughes emphasized the strong investor support as an endorsement of Reward’s vision to become a leading SOP producer.

Tranche 1 will raise AU$1.7 million from unrelated parties, while Tranche 2 will raise AU$0.6 million from Executive Director Dr. Michael Ruane, subject to shareholder approval. Funds will be used for a new scoping study on the Carnarvon Potash Project, technology engagement, and general working capital. Reward expects to seek approval for the Beyondie acquisition in a general meeting by mid-December 2024.

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