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"


Fredonia Announces Closing of C$11.5M Bought Deal Private Placement Including Full Exercise of Underwriters’ Option

Fredonia Mining Inc. (TSX-V: FRED) is pleased to announce that it has closed its previously announce... READ MORE

September 23, 2026

SAGA Metals Drills 485.4 m at 32.21% Fe2O3, 5.30% TiO2, 0.191% V2O5 Including 56.8 m at 49.56% Fe2O3, 8.17% TiO2, 0.339% V2O5 at Radar Critical Minerals Project in Labrador

SAGA Metals Corp. (TSX-V: SAGA) (OTCQX: SAGMF) (FSE: 20H), a North American exploration company foc... READ MORE

September 23, 2026

Legacy in New Core Hole Hits 3.7 g/t Gold over 41ft (12.5m) near Surface, Incl. 15.1 g/t over 6.7ft (2.05m), plus 4 Mineralized Zones Incl. 0.62 g/t over 127ft (38.8m) at Baner, Idaho

Legacy Gold Mines Ltd. (TSX-V: LEGY) is pleased to report assay results from core holes LG26-017 an... READ MORE

September 23, 2026

Inventus Expands Shallow High-Grade Main Layer and Identifies Broad Bulk-Tonnage Gold Potential at Pardo

Inventus Mining Corp. (TSX-V: IVS) is pleased to report results from 100 drill holes from its now-... READ MORE

September 23, 2026

Sleeping Giant Mine Activity Report

Abcourt Mines Inc. (TSX-V: ABI) (OTCQB: ABMBF) is pleased to present its operational report for the ... READ MORE

September 23, 2026

Copyright 2026 The Prospector News