Salt Lake Potash (ASX:SO4) has completed the second tranche of its placement of 31 million ordinary shares.
The company is hoping to raise gross proceeds of $13 million via the placement.
The second tranche comprised the issue of 1.7 million shares including 950 000 shares subscribed for by the CEO.
Proceeds will be used to fund the construction of the Willamson Ponds dewatering as well as ongoing development of on-lake infrastructure.
Shares in Salt Lake Potash (ASX:SO4) last traded at $0.44.