Sage Potash Corp Stock Price, News & Analysis

Sage Potash Corp (SGPTF) has increased its previously announced non-brokered private placement from $4 million to $5 million due to strong investor interest. The offering will now consist of up to 20 million units at $0.25 per unit, with each unit including one common share and half of a warrant. Each whole warrant allows purchase of one common share at $0.35 within two years of closing.

The proceeds will fund the development of the Sage Plain project, strategic exploration activities, and working capital requirements. The securities will have a four-month hold period, and company directors and officers may participate in the offering. The closing is subject to TSX Venture Exchange approval.

Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF) has announced shares for debt transactions involving the issuance of 1,222,222 common shares at a deemed price of $0.27 per share. The shares will be issued to settle financial advisory, consulting, and management fees, with one recipient being a company officer. This transaction constitutes a "related party transaction" under MI 61-101, though it's expected to be exempt from formal valuation and minority shareholder approval requirements. All issued shares will be subject to a four-month hold period, and the transaction requires TSX Venture Exchange approval.

Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF) has announced a non-brokered private placement offering of up to 16,000,000 common shares at $0.25 per share, aiming to raise gross proceeds of up to $4 million. The funds will be allocated for exploration activities and general working capital purposes.

The company may pay finders' fees in cash and/or securities. All issued securities will have a four-month and one-day hold period from issuance. Company directors and officers may participate in the offering, which is considered a "related party transaction" under MI 61-101. The offering is expected to be exempt from formal valuation and minority shareholder approval requirements, pending TSX Venture Exchange acceptance.

Sage Potash Corp (TSXV: SAGE) (OTC: SGPTF) has successfully completed its non-brokered private placement, raising C$2,499,388 through the issuance of 12,496,940 common shares at C$0.20 per share. The company will use the proceeds for general working capital purposes.

In connection with the offering, Sage paid a cash finder's fee of $9,440 and issued 47,200 finder's warrants, exercisable at C$0.20 for 24 months. The securities are subject to a four-month hold period, and the TSX Venture Exchange has conditionally approved the offering. One company insider participated in the placement, qualifying as a related party transaction under MI 61-101, with exemptions from formal valuation and minority shareholder approval requirements.

Sage Potash Corp. (TSXV: SAGE, OTC: SGPTF) has appointed Rod Reum as Chief Financial Officer, bringing 40 years of international finance leadership experience to the company as it progresses into the construction phase of its Sage Plain Project in Utah. The company has also retained Terrarock Industries, led by strategic operations partner Shilo Sazwan, to manage the construction and commissioning of its Muriate of Potash pilot plant.

Mr. Reum's extensive experience includes leading high-growth start-ups and large international partnerships across various industries. He replaces Mr. Grossholtz, who has served as CFO since November 2021. Sage Potash has also granted 4,350,000 stock options to certain directors, officers, employees, and consultants with an exercise price of $0.25 per share and an expiry date of October 17, 2026.

Sage Potash Corp. (TSXV: SAGE) (OTC: SGPTF) announces the resumption of trading for its common shares on the TSX Venture Exchange on September 11, 2024, at 8 a.m. EST. The trading halt, initiated on September 9, was due to the TSXV's review of the company's $12.6 million equipment purchase from a subsidiary of International Process Plants as a 'Fundamental Acquisition'.

Sage Potash also reported a non-brokered private placement of 37.6 million common shares at $0.20 each, raising $7.52 million, and convertible debentures worth $3.78 million. The total gross proceeds of $11.3 million will fund the equipment purchase and related expenses. The private placement and purchase agreement are subject to TSXV acceptance, with securities issued under a four-month hold period.

Sage Potash Corp. (TSXV: SAGE) (OTC: SGPTF) has announced a significant equipment purchase and financing deal to accelerate its project timeline and reduce start-up costs. The company has entered into an agreement with International Process Plants (IPP) to purchase processing equipment capable of producing 300,000 tonnes of potash annually for $12.6 million. The equipment, mostly unused and in storage, was originally fabricated in 2012 at a cost of approximately €36 million.

To finance this purchase, Sage Potash is conducting a non-brokered private placement of 37,600,000 common shares at $0.20 each, raising $7,520,000, and issuing convertible debentures worth $3,780,000. The company estimates this acquisition could save US$75 to US$100 million in project costs and 4-5 years in fabrication lead time. This strategic move aims to enhance shareholder value and reduce the United States' reliance on potash imports.

Sage Potash Corp. (TSXV: SAGE, OTC: SGPTF) announced key appointments to its leadership team aimed at accelerating its domestic potash production in Utah. Clark Sazwan joins the Board of Directors, bringing decades of experience in mining and fertilizers. Amir Rahimtula is appointed as Global Finance & Trade Partner, leveraging his extensive global financial and trading expertise. Shilo Sazwan is named Strategic Operations Partner, adding over thirty years of strategic operations experience in the fertilizer industry. These appointments are expected to enhance Sage's capabilities in efficient production and global market expansion. The press release also highlights the successful closing of a non-brokered private placement on May 27, 2024, raising $1.8226 million, further bolstering the company's financial position.