REG - Kore Potash PLC - Kola Financing Term Sheet Update

Kore PotashAnnouncement

01/04/2025 14:45

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RNS Number : 1934D  Kore Potash PLC  01 April 2025

 

 

 

 

 

01 April 2025

Kore Potash Plc

("Kore Potash" or the "Company")

 

Kola financing term sheet update

 

Kore Potash, the potash exploration and development company whose flagship
asset is the 97%-owned Sintoukola Potash Project ("Kola" or the "Kola
Project"), located within the Republic of Congo ("RoC"), announces that
further to the signing of the EPC Contract last year and the announcement of
the Kola Project Optimised DFS on 27 February 2025, the Summit Consortium was
expected to deliver a non-binding financing term sheet for the Kola Project by
the end of March 2025.

 

While having made very good progress, the Consortium was unable to finalize
the Term Sheet by the end of March as targeted. The consortium has advised
Kore that they need more time to complete their internal process which has
been impacted by the Ramadan season and Eid celebrations.

 

The Summit Consortium is now expected to deliver the term sheet before the end
of this month and hopefully by mid April 2025.

 

 

 

Market Abuse Regulation

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

Enquiries:

( )

 

 Kore Potash                                           Tel: +44 (0) 20 3963 1776

 Andre Baya - CEO
 Andrey Maruta - CFO

 SP Angel - Nomad, Joint Broker and Joint Bookrunner   Tel: +44 (0) 20 7470 0470
 Ewan Leggat

 Charlie Bouverat

 Shore Capital - Joint Broker and Joint Bookrunner     Tel: +44 (0) 20 7408 4050
 Toby Gibbs

 James Thomas
 Tavistock Communications

                                                       Tel: +44 (0) 20 7920 3150
 Emily Moss

 Nick Elwes

 Questco Corporate Advisory - JSE Sponsor              Tel: +27 (63) 482 3802

 Done Hattingh

 

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