Kalium Lakes terminates Share Sale Agreement with Reward

Kalium Lakes Limited (ASX: $KLL) has terminated the Share Sale Agreement (SSA) with Reward Minerals Limited (Reward) as Reward was unable to secure sufficient funding to complete the SSA. This has led to the expectation of Kalium Lakes Potash Pty Ltd and Kalium Lakes Infrastructure Pty Ltd entering liquidation in the coming days.

Executive Commentary

We regret to announce the termination of the Share Sale Agreement with Reward due to their inability to secure the necessary funding. As a result, our subsidiaries, Kalium Lakes Potash Pty Ltd and Kalium Lakes Infrastructure Pty Ltd, are anticipated to enter liquidation shortly. We understand the impact this may have on our stakeholders and will work closely with the appointed administrators and receivers to provide necessary information and support during this process.

Summary

Kalium Lakes (ASX: $KLL) has terminated the Share Sale Agreement with Reward as Reward was unable to secure sufficient funding to complete the agreement. Consequently, Kalium Lakes Potash Pty Ltd and Kalium Lakes Infrastructure Pty Ltd are expected to enter liquidation in the coming days. The company will provide further information and support to stakeholders during this process. The termination of the SSA reflects the current financial challenges faced by the company and its efforts to navigate through this situation.