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"


Barrick Grows Gold and Copper Reserves Significantly, Setting It Apart From Peers as It Positions for Growth

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) grew attributable ... READ MORE

February 6, 2025

Liberty Gold Announces Assay Results from the 2024 Drill Program at the Black Pine Oxide Gold Project, Idaho

0.96 g/t Au over 24.4 meters, including 1.94 g/t Au over 6.1 mete... READ MORE

February 6, 2025

Reyna Silver Announces First Tranche Closing of Previously Announced Non-Brokered Private Placement

Reyna Silver Corp. (TSX-V: RSLV) (OTCQB: RSNVF) (FRA: 4ZC) is ple... READ MORE

February 6, 2025

Arizona Metals Extends Kay2 Zone 450 m Below Discovery Hole at Kay Deposit

Arizona Metals Corp. (TSX: AMC), (OTCQX: AZMCF) is pleased to ann... READ MORE

February 6, 2025

LAHONTAN ANNOUNCES CLOSING OF PRIVATE PLACEMENT AND SALE OF COMMON SHARES BY VICTORIA GOLD CORP

Lahontan Gold Corp. (TSX-V:LG, OTCQB:LGCXF) is pleased to announc... READ MORE

February 5, 2025

Copyright 2025 The Prospector News