Potash explorer South Harz Potash (ASX:SHP) is set to raise A$2.6 mln ($1.72 mln) through an equity placement at a price of A$0.03 per share, representing a 21.1% discount to the stock’s last close.
The company has also launched a share purchase plan offer to raise up to an additional A$0.5 mln.
The stock hit its lowest level since July 5.
South Harz Potash shares are down 7.3% year-to-date.
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