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"


FireFly Completes Equity Raising

FireFly Metals Ltd (ASX: FFM) (TSX: FFM) is pleased to announce that it ... READ MORE

September 3, 2026

Precore Gold Closes Oversubscribed C$6 Million Private Placement

Precore Gold Corp. (CSE: PRCG) is pleased to announce the closing... READ MORE

September 3, 2026

Kobo Resources Extends Gold Mineralisation to the North at Kossou with Multiple High-Grade Drill Intercepts

Drilling at the northern end of the Road Cut Zone continues to ex... READ MORE

September 3, 2026

Kenorland Minerals Reports Assay Results from Maiden Diamond Drill Program at the Western Wabigoon Project, Ontario

Kenorland Minerals Ltd. (TSX-V: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) i... READ MORE

September 3, 2026

Cerrado Gold Closes $10 Million Strategic Private Placement with Eric Sprott

Cerrado Gold Inc. [TSX.V:CERT] [OTCQX:CRDOF] is pleased to announ... READ MORE

September 3, 2026

Copyright 2026 The Prospector News