- Salt Lake Potash Ltd has successfully completed the domestic tranche of a placement of 16.25m shares at AUD0.32 each to raise gross proceeds of AUD5.2m.

Further, at the request the company, trading on the ASX for its ordinary shares of no par value has been temporarily suspended from March 23 pending a further announcement regarding an additional capital raising.

The suspension was granted by the ASX at the Company's request in accordance with the ASX Listing Rules, in order to allow a proposed capital raise to be finalised.

The Company anticipates the suspension on the ASX will remain in place until the earlier of such time it makes an announcement to the market in relation to the outcome of the proposed additional capital raise, or the commencement of trading on 24 March 2016.

Trading in the Company's ordinary securities will continue on AIM during this period.

At 10:47am: (LON:SO4) Salt Lake Potash Limited share price was +0.13p at 17.5p

Story provided by