DLA Piper advises Salt Lake Potash on AUD28 million capital raising

Global law firm DLA Piper has advised Salt Lake Potash Limited (ASX: SO4) (SO4) on its successful AUD28 million capital raising.

By way of placement, SO4 received binding commitments from institutional shareholders, sophisticated investors and directors to raise AUD28 million, which will enable the drawdown of the final USD33 million in debt for their Lake Way project.

The Lake Way project, located in the Goldfields region of Western Australia, will be the first producing asset within SO4's project portfolio, which is now within weeks of producing Sulphate of Potash.

DLA Piper’s team was led by Perth based Corporate partner James Nicholls and Finance & Projects special counsel Nic Hemelaar, with support from solicitors Kirsty Hall, Andrew Moullin and Jenita Iyalu.

James Nicholls said: “Supporting SO4 on this successful capital raising has been an absolute pleasure. We are excited and thankful to have been able to assist them on their journey to the company’s first ever producing asset. SO4 are going from strength to strength and we look forward to seeing their continued growth into the future.”