Salt Lake Potash Limited (“the Company”) is pleased to announce that it has now completed the placement of 31.0 million new ordinary shares of the Company, to raise gross proceeds of A$13.0 million (“Placement”), first announced on 9 November 2018.  

The second tranche of the Placement has been completed following shareholder approval at a General Meeting held on 20 December 2018. The issue comprised 1,702,381 ordinary shares of no par value at a price of A$0.42 per share, including 952,381 shares subscribed for by the CEO, Mr Tony Swiericzuk, and 750,000 shares by the Company’s Chairman, Mr Ian Middlemas.

Proceeds from the Placement will be used to fund the construction of the Williamson Ponds and dewatering of the Williamson Pit, as well as ongoing development of on-lake infrastructure, exploration and feasibility studies, and general working capital.

Funds from the Placement have enabled the mobilisation of construction equipment to Lake Way, with preliminary site preparation works being undertaken in preparation for the imminent construction of the Williamson Ponds and dewatering of the Williamson Pit.

Application has been made to the AIM Market of the London Stock Exchange (“AIM”) for the admission of the 1,702,381 Ordinary Shares, which rank pari passu with the Company’s existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM are expected to commence at 8:00am on or around 10 January 2019 (“Admission”).

An Appendix 3B and Section 708A Notice are attached as required under the listing rules of the ASX.

Total Voting Rights

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (“DTRs”), following Admission, Salt Lake will have 206,270,581 Ordinary Shares in issue with voting rights attached. Salt Lake holds no shares in treasury. This figure of 206,270,581 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the ASX Listing Rules or the DTRs.

Directors’ interests

Following the issue of these shares, the directors will have the following interests in shares:

Mr Swiericzuk also holds an indirect interest in 5 million incentive options and 7,266,258 performance rights.

For further information please visit www.saltlakepotash.com.au or contact:

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement,

application for quotation of additional securities

and agreement

Information or documents not available now must be given to ASX as soon as available.  Information and documents given to ASX become ASX’s property and may be made public.

Introduced 01/07/96  Origin: Appendix 5  Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

We (the entity) give ASX the following information.

Part 1 ‑ All issues

You must complete the relevant sections (attach sheets if there is not enough space).

Part 2 ‑ Pro rata issue

Part 3 ‑ Quotation of securities

You need only complete this section if you are applying for quotation of securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Entities that have ticked box 34(b)

Quotation agreement

1           +Quotation of our additional +securities is in ASX’s absolute discretion.  ASX may quote the +securities on any conditions it decides. 

2          We warrant the following to ASX.

·           The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.

·           There is no reason why those +securities should not be granted +quotation.

·           An offer of the ⁺securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

·           Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.

·           If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.

3          We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

4          We give ASX the information and documents required by this form.  If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins.  We acknowledge that ASX is relying on the information and documents.  We warrant that they are (will be) true and complete.

Sign here:            …………………………………………………..            Date: 9 January 2019

                             (Director/Company secretary)

Print name:         Clint McGhie

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Notice Under Section 708A

Salt Lake Potash Limited (the Company) has today issued 1,702,381 fully paid ordinary shares. The issued shares are part of a class of securities quoted on Australian Securities Exchange (“ASX”). 

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Corporations Act 2001 (Cwth) (the “Act”) that:

1.         the Company issued the securities without disclosure to investors under Part 6D.2 of the Act;

2.         as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the Company, and section 674 of the Act; and

3.         as at the date of this notice, there is no information that is “excluded information” within the meaning of sections 708A(7) and (8) of the Act.