Sage Potash Announces Financing Upsize to $5 Million
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 (SGPTF) ha aumentato il suo collocamento privato non mediato precedentemente annunciato da 4 milioni di dollari a 5 milioni di dollari grazie a un forte interesse da parte degli investitori. L'offerta comprenderà ora fino a 20 milioni di unità al prezzo di 0,25 dollari per unità, con ogni unità che include una azione ordinaria e metà di un warrant. Ogni warrant intero consente l'acquisto di una azione ordinaria a 0,35 dollari entro due anni dalla chiusura.
I proventi serviranno a finanziare lo sviluppo del progetto Sage Plain, attività di esplorazione strategica e le necessità di capitale circolante. I titoli avranno un periodo di blocco di quattro mesi e i direttori e dirigenti della società potranno partecipare all'offerta. La chiusura è soggetta all'approvazione della TSX Venture Exchange.
Sage Potash Corp (SGPTF) ha incrementado su colocación privada no intermediada previamente anunciada de 4 millones a 5 millones de dólares debido al fuerte interés de los inversores. La oferta ahora consistirá en hasta 20 millones de unidades a 0,25 dólares por unidad, cada unidad incluye una acción común y la mitad de un warrant. Cada warrant completo permite la compra de una acción común a 0,35 dólares dentro de los dos años posteriores al cierre.
Los fondos se destinarán al desarrollo del proyecto Sage Plain, actividades estratégicas de exploración y necesidades de capital de trabajo. Los valores tendrán un período de retención de cuatro meses, y los directores y oficiales de la empresa podrán participar en la oferta. El cierre está sujeto a la aprobación de la TSX Venture Exchange.
Sage Potash Corp (SGPTF)는 투자자들의 높은 관심으로 인해 이전에 발표한 비중개 사모 발행 규모를 400만 달러에서 500만 달러로 늘렸습니다. 이번 발행은 단위당 0.25달러에 최대 2천만 단위로 구성되며, 각 단위는 보통주 1주와 워런트 0.5개로 구성됩니다. 워런트 1개는 종료 후 2년 이내에 0.35달러에 보통주 1주를 구매할 수 있는 권리를 제공합니다.
자금은 Sage Plain 프로젝트 개발, 전략적 탐사 활동 및 운전자본 요구에 사용될 예정입니다. 증권은 4개월 간의 보유 기간이 있으며, 회사의 이사 및 임원도 이번 발행에 참여할 수 있습니다. 거래 마감은 TSX 벤처 거래소의 승인을 조건으로 합니다.
Sage Potash Corp (SGPTF) a augmenté son placement privé non parrainé précédemment annoncé, passant de 4 millions à 5 millions de dollars en raison d'un fort intérêt des investisseurs. L'offre comprendra désormais jusqu'à 20 millions d'unités à 0,25 dollar par unité, chaque unité comprenant une action ordinaire et la moitié d'un bon de souscription. Chaque bon complet permet l'achat d'une action ordinaire à 0,35 dollar dans les deux ans suivant la clôture.
Les fonds serviront à financer le développement du projet Sage Plain, des activités d'exploration stratégiques et les besoins en fonds de roulement. Les titres seront soumis à une période de blocage de quatre mois, et les administrateurs et dirigeants de la société pourront participer à l'offre. La clôture est soumise à l'approbation de la TSX Venture Exchange.
Sage Potash Corp (SGPTF) hat aufgrund des starken Anlegerinteresses seine zuvor angekündigte nicht vermittelte Privatplatzierung von 4 Millionen auf 5 Millionen US-Dollar erhöht. Das Angebot umfasst nun bis zu 20 Millionen Einheiten zu je 0,25 US-Dollar, wobei jede Einheit eine Stammaktie und einen halben Warrant beinhaltet. Jeder volle Warrant berechtigt innerhalb von zwei Jahren nach Abschluss zum Kauf einer Stammaktie zu 0,35 US-Dollar.
Die Erlöse werden für die Entwicklung des Sage Plain Projekts, strategische Explorationsaktivitäten und den Betriebskapitalbedarf verwendet. Die Wertpapiere unterliegen einer viermonatigen Haltefrist, und Direktoren sowie leitende Angestellte des Unternehmens können an dem Angebot teilnehmen. Der Abschluss steht unter dem Vorbehalt der Genehmigung durch die TSX Venture Exchange.
- Strong investor interest led to $1 million upsize in the offering to $5 million total
- Proceeds will advance Sage Plain project development and exploration activities
- Management participation in offering shows alignment with shareholder interests
- Potential dilution for existing shareholders through 20 million new units
- Additional dilution possible through warrant exercise at $0.35 within 2 years
- Related party transactions through director/officer participation may raise governance concerns
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2025) - Sage Potash Corp. (TSXV: SAGE) (OTCQB: SGPTF) ("Sage Potash" or the "Company") is pleased to announce that, further to its May 9 and May 27, 2025 news releases, due to strong investor commitment and interest, it has upsized its previously announced non-brokered private placement (the "Offering") from
The Offering will now consist of up to 20 million units of the Company (the "Units") at a price of
Net proceeds from the Offering will be allocated toward the continued development of the Sage Plain project, strategic exploration activities, and general working capital requirements. The Company may pay finders' fees in cash and/or securities of the Company in connection with the Offering. All securities issued under the Offering will be subject to a hold period of four months and one day from the date of issuance under applicable securities laws.
Certain directors and officers of the Company may acquire securities under the Offering. Any such participation will be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Company expects that the Offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the Company is listed on the TSX Venture Exchange and neither the expected fair market value of securities being issued to related parties nor the consideration being paid by related parties would exceed
Closing of the Offering is subject to TSX Venture Exchange acceptance.
Peter Hogendoorn, CEO of Sage Potash, commented: "The strong response to our financing is a clear endorsement of our long-term strategy to develop a domestic potash resource at the heart of the Paradox Basin. This upsize allows us to continue advancing our roadmap aggressively while maintaining a disciplined and sustainable approach to development."
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 info@sagepotash.com.
On Behalf of the Board of Directors,
Peter Hogendoorn
CEO & Executive Chairman
+1(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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this news release includes, but is not limited to, statements with respect to future events or future performance of Sage Potash and with respect to the Offering, including the use of proceeds thereof and the proposed issuance of securities. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors and Uncertainties" in the Company's Management's Discussion & Analysis available for review under the Company's profile at www.sedarplus.ca. Such forward-looking information represents management's best judgement based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
For media inquiries, please contact: Marcus van der Made, Investor Relations of Sage Potash Corp. - marcus@sagepotash.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253790
FAQ
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