Sage Potash Shares to Resume Trading
Sage Potash Shares to Resume Trading
VANCOUVER, BC
,
Sept. 11, 2024
/CNW/ -
Sage Potash Corp.
(TSXV: SAGE) (OTC:
SGPTF) ("Sage" or the "Company") is pleased to announce that its common shares will resume
trading on the TSX Venture Exchange ("TSXV") at
8 a.m. EST
on
September 11, 2024
.
The shares were halted from trading on
September 9, 2024
, as a result of the TSXV's request to
review the transaction between the Company and a subsidiary of International Process Plants
("IPP") as a "Fundamental Acquisition", as that term is defined under TSXV policies. The Company's
purchase of equipment from IPP for
$12.6 million
was previously reported in a news release dated
September 9, 2024
.
In the same news release, the Company announced a non-brokered private placement (the "Private
Placement") of 37.6 million common shares at
$0.20
each for gross proceeds of
$7.52 million
and
convertible debentures with an aggregate principal amount of
$3.78 million
. The gross proceeds of
the Private Placement of
$11.3 million
will be used to satisfy the obligations under the Purchase
Agreement and for equipment-related purposes such as packing, logistics, modifications, interest
and general working capital.
The Private Placement is integral to the proposed transactions under the Purchase Agreement and
thus the Company will be relying on the "part and parcel pricing exception" provided for in the
policies of the TSXV. The Private Placement and transactions contemplated under the Purchase
Agreement are subject to acceptance by the TSXV. All securities issued under the Private
Placement and the Purchase Agreement will be subject to a hold period of four months.
This news release follows the news release on
September 9
2024
"
Sage Potash Announces Equipment Purchase And Financing
."
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.sedarplus.ca
) or contact the Company by email at
.
On Behalf of the Board of Directors,
Peter Hogendoorn
CEO & Executive Chairman
(604) 764-2158
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.
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SOURCE
Sage Potash Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/September2024/11/c8079.html
%SEDAR: 00054782E
CO: Sage Potash Corp.
CNW 08:00e 11-SEP-24