Junior sulfate of potash producer Kalium Lakes, Balcatta, Western Australia, said on April 23 that it has completed the conditional cornerstone investment of A$20.8 million (US$14.8 million) (GM April 5, p. 26) from Greenstone Management (Delaware) II LLC in its capacity as general partner of Greenstone Resources II (Australia) Holdings LP with respect to Kalium Lakes’ Beyondie Sulfate of Potash Project.
The company has issued 28,401,101 new fully paid ordinary shares at an issue price of $0.44 per share. Greenstone now holds 47,305,558 shares, or 19.8 percent of total issued shares. The company will hold a shareholders meeting on May 21 for shareholder approval of the ratified shares.