TIDMKP2

RNS Number : 8508R

Kore Potash PLC

31 October 2023

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                                  Tel: +27 84 603 6238 
  Brad Sampson - CEO 
 Tavistock Communications                     Tel: +44 (0) 20 7920 
  Nick Elwes                                   3150 
  Adam Baynes 
 SP Angel Corporate Finance - Nomad           Tel: +44 (0) 20 7470 
  and Broker                                   0470 
  Ewan Leggat 
  Charlie Bouverat 
 Shore Capital - Joint Broker                 Tel: +44 (0) 20 7408 
  Toby Gibbs                                   4050 
  James Thomas 
 Questco Corporate Advisor - JSE Sponsor      Tel: +27 (11) 011 
  Doné Hattingh                           9205

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END

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October 31, 2023 04:30 ET (08:30 GMT)

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