Highfield Resources inks agreements totalling US$220M to transition to global potash leader

Highfield Resources Ltd (ASX:HFR) has struck binding deals with Yankuang Energy Group Co Ltd and strategic investors, including Beijing Energy International Holding Co Ltd and Singapore Taizhong Global Development Pte Ltd, to secure the remaining funding for the Muga potash project and acquire the Southey potash project in Saskatchewan, Canada.

The transaction includes a US$220 million equity raise through the cornerstone placement, under which Yankuang Energy and other strategic investors will subscribe for new shares at A$0.50 per share, representing a 64% premium to the company’s last closing price.

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