31 October 2023
Kore Potash Plc
("Kore Potash" or "the Company")
Management Change
Kore Potash (AIM: KP2, ASX: KP2, JSE:KP2), the potash development company with 97% ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located in the Republic of Congo, announces the resignation of Mr Brad Sampson, the Company's Chief Executive Officer ("CEO").
Mr Sampson, who joined the Company as CEO in May 2018, has resigned as a Director of the Company with immediate effect, and will continue as CEO until the end of November 2023. He is leaving the Company in order to pursue his other business interests.
The Company does not intend to appoint a new CEO until after the receipt of the financing proposal for the construction of the Kola Potash Project. The Chairman will assume the role of CEO in the interim.
Mr David Hathorn, the Chairman of Kore Potash said:
"The Board and Management team of Kore Potash would like to thank Brad for his leadership and valuable contribution to the Company over the last 5 years. We wish Brad every success in the future."
The process to reach agreement on Engineering, Procurement and Construction contract terms, and to receive a financing proposal for the full construction cost of the Kola Potash Project, is now near completion and is expected to be finalised during the first quarter of 2024 with construction contractors scheduled to be mobilised during the first half of 2024.
This announcement has been approved for release by the Board of Kore Potash.
Market Abuse Regulation
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
ENDS
For further information, please visit www.korepotash.com or contact:
| Kore Potash Brad Sampson - CEO | Tel: +27 84 603 6238 |
| Tavistock Communications Nick Elwes Adam Baynes | Tel: +44 (0) 20 7920 3150 |
| SP Angel Corporate Finance - Nomad and Broker Ewan Leggat Charlie Bouverat | Tel: +44 (0) 20 7470 0470 |
| Shore Capital - Joint Broker Toby Gibbs James Thomas | Tel: +44 (0) 20 7408 4050 |
| Questco Corporate Advisor - JSE Sponsor Doné Hattingh | Tel: +27 (11) 011 9205 |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
