Kore Potash plc announced a private placement of 5 separate Convertible Loan Notes at a price of $106,000 for the gross proceeds of $530,000 on March 22, 2024. Each convertible loan has a zero interest coupon and is convertible into new ordinary shares of $0.001 each in the company at a price of $0.00484 per new Ordinary Share and will be converted immediately after publication of the 2023 Annual Report which the company expects to publish on or about 28 March 2024. Subject to the conversion of the notes the company will issue 109,865,053 new Ordinary Shares.

The transaction included participation from returning investor Harlequin Investments Ltd for notes to the value of $200,000, which will convert into 41,458,510 new ordinary shares.