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TURNSTONE RESOURCES LTD — Capital/Financing Update 2024
Feb 6, 2024
65958_rns_2024-02-06_6b131c85-8c65-4eb2-9e71-1c9bfaa82a64.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT 7 February 2024
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ENTITLEMENT ISSUE - EXTENSION OF CLOSING DATE
South Harz Potash Limited (ASX:SHP) ( South Harz or the Company ) refers to its pro-rata non-renounceable entitlement issue to eligible shareholders of one (1) Share for every fifteen (15) Shares held by eligible shareholders on 15 January 2024, at an issue price of $0.023 per Share, to raise up to $1,196,152 (before costs) ( Entitlement Issue ), as set out in the Prospectus dated 9 January 2024.
The Company advises that it has resolved to extend the Closing Date for its Entitlement Issue from 5.00pm (WST) Monday, 12 February 2024 to 5.00pm (WST) Monday, 26 February 2024.
The Entitlement Issue is offered to eligible shareholders with a registered address in Australia, New Zealand, the United Kingdom or the European Union (Germany, Greece, Ireland, Malta, Spain).
The revised timetable for the Entitlement Issue is set out below:
Revised Timetable
| Revised Timetable | |
|---|---|
| Last day to extend the Closing Date | Prior to noon (Sydney time) Wednesday, 21 February 2024 |
| Closing Date as at 5:00pm* | Monday, 26 February 2024 |
| Shares quoted on a deferred settlement basis | Tuesday, 27 February 2024 |
| ASX and Underwriter notified of under subscriptions | Wednesday, 28 February 2024 |
| Underwriter subscribes for Shortfall under terms of Underwriting Agreement |
Wednesday, 28 February 2024 |
| Issue date and lodgement of Appendix 2A with ASX applying for quotation of the Shares |
Prior to noon (Sydney time) Monday, 4 March 2024 |
| Quotation of Shares issued under the Offer** | Tuesday, 5 March 2024 |
*These dates are indicative only and are subject to change.
**The Directors may extend the Closing Date by giving at least 3 Business Days’ notice to ASX prior to the Closing Date. Accordingly, the date the Shares are expected to commence trading on ASX may vary.
780.1 M Ordinary Shares 113.4 M Unlisted Options
ABN: 64 153 414 852 ASX Code: SHP Frankfurt Code: A2DWXX
CONTACT DETAILS W: southharzpotash.com E: [email protected] P: +61 (0) 408 447 493
U13, 6 – 10 Douro Place West Perth WA 6005
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Further details of the Entitlement Issue, including details on how to accept the Entitlement Issue and key risks associated with an investment in the Company are set out in the Prospectus. Applications for Shares under the Entitlement Issue may only be made by completing the Entitlement and Acceptance Form which accompanies the Prospectus. Shareholders eligible to participate in the Entitlement Issue should read the Prospectus carefully and consult their professional advisers as necessary.
This ASX release has been approved by Managing Director, Luis da Silva.
Investor and media enquiries
Luis da Silva Michael Vaughan Managing Director and CEO Fivemark Partners South Harz Potash Ltd +61 422 602 720 [email protected] [email protected]
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About South Harz
South Harz Potash (ASX: SHP) ( South Harz ) is a potash exploration and development company with its flagship project located in the South Harz Potash District region of Germany, midway between Frankfurt and Berlin.
The South Harz Project hosts a globally large-scale potash JORC (2012) Mineral Resource estimate of 5 billion tonnes at 10.6% K2O of Inferred resources and 258 million tonnes at 13.5% K2O of Indicated Resources across four wholly-owned project areas located favourably within central Europe.[1] This comprises three perpetual potash mining licences, Ohmgebirge, Ebeleben and Mühlhausen-Nohra, and two potash exploration licences, Küllstedt and Gräfentonna, covering a total area of approximately 659km.
With strong established infrastructure proximate to the key European market, the South Harz Project is well positioned to enable rapid economic development across multiple deposits.
South Harz Potash: Growing a responsible potash business in the heart of Germany.
www.southharzpotash.com
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- Refer to South Harz ASX release dated 12 July 2022 for full Mineral Resource estimate details. In accordance with ASX Listing Rule 5.23, the Company is not aware of any new information or data that materially affects the information included in this release, and the Company confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the estimates in these releases continue to apply and have not materially changed.