Kalium Lakes Ltd (ASX:KLL) successfully completed $50m capital raise.

Kalium Lakes Ltd (ASX:KLL) has announced it has successfully completed a $50 million capital raise via the launch of a two-tranche placement of fully paid ordinary shares.

When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.

More often than not, the shares are sold at a discount to the company?s share price at the time to entice new and existing investors.

Following the announcement shares of Kalium LakesLtd (ASX:KLL) are trading 11.36% lower.