Kore Potash (ASX:KP2) purchased a 0.46% interest in the share capital of Sintoukola Potash for $1 million in cash and the conditional right to acquire the remaining interest in the Kola potash project in the Republic of Congo not owned by the firm, according to a Monday Australian bourse filing.

The company currently owns 97% of Sintoukola Potash, with the remaining 3% being held by Etablissements MGM, per the filing. It has also been granted the right to acquire Etablissements' remaining outstanding minority 2.54% share interest in Sintoukola Potash.

This right will be exercisable if an offer to acquire all of the issued and to be issued share capital of the company completes within 12 months of the date of the agreement, the filing said.

The company's shares rose past 3% in recent trading on Monday.