Sage Potash Closes Private Placement of $1,822,500
Sage Potash Closes Private Placement of
$1,822,500
VANCOUVER, BC
,
May 27, 2024
/CNW/ -
Sage Potash Corp.
, (TSXV: SAGE) (OTC:
SGPTF) ("Sage" or the "Company") has closed its non-brokered private placement of 13,500,000
common shares for total proceeds of
$1,822,500
. The proceeds will be used for the advancement of
its mineral properties and for general administration expenses. The private placement is subject to
final acceptance by the TSX Venture Exchange, and all securities issued under the private placement
will be subject to a four-month hold which expires on
September 28, 2024
. The Company paid
finder's fees of
$10,800
and issued 80,000 broker warrants. Each broker warrant entitles the holder
to purchase, from today's date up to
May 27, 2025
, one common share of the Company at a price
of
$0.25
per share.
Peter Hogendoorn
, the Company's CEO, comments: "We are extremely pleased to have attracted
strategic investors who understand and appreciate the value of our project, namely a comprehensive
and strategic land and mineral portfolio hosting a 280MMT inferred resource* of high-grade, clean
chemistry potash, with a pilot production strategy in place and permitting to water access, cavern
development and waste disposal wells. We look forward to providing further updates of
fundamental developments as we advance our project."
*NI 43-101 Technical Report Effective Date:
November 21
, 2022. Revised and amended date,
February 8, 2023
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
.
On Behalf of the Board of Directors,
Peter Hogendoorn
CEO & Executive Chairman
Website:
www.sagepotash.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release. This news release may contain "forward-looking statements", which are statements
about the future based on current expectations or beliefs. For this purpose, statements of historical
fact may be deemed to be forward-looking statements. Forward–looking statements by their nature
involve risks and uncertainties, and there can be no assurance that such statements will prove to be
accurate or true. Investors should not place undue reliance on forward-looking statements. The
Company does not undertake any obligation to update forward-looking statements except as
required by law.
SOURCE
Sage Potash Corp.
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%SEDAR: 00038059E
For further information:
Peter Hogendoorn, CEO & Executive Chairman, (604) 764-2158
CO: Sage Potash Corp.
CNW 17:13e 27-MAY-24