The Prospector News

Sage Potash Closes Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Sage Potash Closes Private Placement

 

 

 

 

 

SAGE POTASH CORP. (TSX-V: SAGE) (OTCQB: SGPTF) has closed its non-brokered private placement of 4,694,505 units for gross proceeds of $1,502,241.60.  Each Unit consists of one common share in the capital of the Company and half of a common share purchase warrant (each a “Warrant”). Each whole Warrant entitles the holder to buy one Share for $0.50 during the two years following the warrant’s issuance date.

 

The Company has paid finder’s fees in aggregate of $94,179.20 cash and 294,310 warrants. Each Broker Warrant entitles the holder to buy one Share for $0.32 during the two years following the warrant’s issuance date.

 

The proceeds of the private placement will be used to fund the exploration of Company’s mineral properties and for general working capital. All securities issued under the private placement, including Broker Warrants, will have a four-month hold.

 

An Insider of the Company has purchased 50,000 Units, and such subscription is considered a  “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The issuance to the Insider is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b), as the Company’s shares are not listed on a specified market, and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the securities issued to the related party did not exceed 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Offering as the participation of related party was not settled until shortly before closing.

 

About Sage Potash Corp.

 

Sage Potash is a Canadian company vested solely in the Sage Plain Property and intends through sustainable solution mining techniques to become a prominent domestic potash producer within the Paradox Basin situated in Utah. For further information, please refer to the Company’s disclosure record on SEDAR (www.sedar.com) or contact the Company by email at info@sagepotash.com.

 

Posted August 3, 2023

Share this news article

MORE or "UNCATEGORIZED"


Santacruz Reports Q1 2026 Production of 1,341,499 Ounces of Silver and 21,640 Tonnes of Zinc, with Continued Recovery of Production at Bolivar Mine

Santacruz Silver Mining Ltd. (NASDAQ:SCZM) (TSX-V:SCZ) announces that total production in the first ... READ MORE

April 17, 2026

Greenland Government Approves Transfer of Final 50.5% of Tanbreez, Taking Critical Metals Corp. to 92.5% Ownership

Critical Metals Corp. (Nasdaq: CRML), a leading critical mineral mining company, today announced tha... READ MORE

April 17, 2026

NMG Announces Closing of US$96.5 Million Equity Public Offering

As part of the financing package for the phased development of the commercial operations of its Mata... READ MORE

April 16, 2026

Group Eleven Drills 23.5m of 12.3% Zn+Pb and 46 g/t Ag, Further Confirms Deeper Cu-Ag Mineralization and Extends Mineralized Strike by 600m to 3.2km

Group Eleven Resources Corp. (TSX-V: ZNG) (OTCQB: GRLVF) (FSE: 3GE) is pleased to announce new assay... READ MORE

April 16, 2026

Argenta Silver Step-Out Drilling Intersects 679 g/t Ag over 13.5m, including 1,163 g/t Ag over 4.0m, Resource Continuity and Expansion Continues

Argenta Silver Corp. (TSX-V: AGAG) (OTCQX: AGAGF) (FSE: T1K) is pleased to report the third set of ... READ MORE

April 16, 2026

Copyright 2026 The Prospector News