Sage Potash Announces Shares for Debt Transactions
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 $0.27 per share. The shares will be issued to settle financial advisory, consulting, and management fees, with one recipient being a company officer. This transaction constitutes a "related party transaction" under MI 61-101, though it's expected to be exempt from formal valuation and minority shareholder approval requirements. All issued shares will be subject to a four-month hold period, and the transaction requires TSX Venture Exchange approval.
Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF) ha annunciato operazioni di scambio azioni per debiti, con l'emissione di 1.222.222 azioni ordinarie a un prezzo imputato di 0,27$ per azione. Le azioni saranno emesse per saldare compensi per consulenza finanziaria, consulenza e gestione, con uno dei beneficiari che è un dirigente della società. Questa operazione costituisce una "transazione con parti correlate" ai sensi del MI 61-101, anche se si prevede che sia esente dai requisiti di valutazione formale e approvazione da parte degli azionisti di minoranza. Tutte le azioni emesse saranno soggette a un periodo di blocco di quattro mesi e l'operazione necessita dell'approvazione della TSX Venture Exchange.
Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF) ha anunciado transacciones de acciones por deuda que implican la emisión de 1,222,222 acciones comunes a un precio presunto de $0.27 por acción. Las acciones se emitirán para saldar honorarios por asesoría financiera, consultoría y gestión, siendo uno de los beneficiarios un funcionario de la empresa. Esta transacción constituye una "transacción con partes relacionadas" según MI 61-101, aunque se espera que esté exenta de los requisitos formales de valoración y aprobación por parte de accionistas minoritarios. Todas las acciones emitidas estarán sujetas a un periodo de retención de cuatro meses y la transacción requiere la aprobación de la Bolsa de Valores TSX Venture.
Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF)은 1,222,222 보통주를 주당 $0.27의 평가 가격으로 발행하는 부채 대 주식 거래를 발표했습니다. 이 주식들은 금융 자문, 컨설팅 및 경영 수수료를 정산하기 위해 발행되며, 수령인 중 한 명은 회사 임원입니다. 이 거래는 MI 61-101에 따른 "특수관계자 거래"에 해당하지만, 공식 평가 및 소수 주주 승인 요건은 면제될 것으로 예상됩니다. 발행된 모든 주식은 4개월의 보호예수 기간이 적용되며, 거래는 TSX 벤처 거래소의 승인을 필요로 합니다.
Sage Potash Corp (TSXV : SAGE) (OTCQB : SGPTF) a annoncé des transactions d'actions contre dettes impliquant l'émission de 1 222 222 actions ordinaires à un prix réputé de 0,27 $ par action. Les actions seront émises pour régler des frais de conseil financier, de consultation et de gestion, dont un bénéficiaire est un dirigeant de la société. Cette transaction constitue une "transaction entre parties liées" selon le MI 61-101, bien qu'elle soit censée être exemptée des exigences formelles d'évaluation et d'approbation des actionnaires minoritaires. Toutes les actions émises seront soumises à une période de blocage de quatre mois, et la transaction nécessite l'approbation de la TSX Venture Exchange.
Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF) hat Aktien-gegen-Schulden-Transaktionen angekündigt, bei denen 1.222.222 Stammaktien zu einem angenommenen Preis von 0,27 $ pro Aktie ausgegeben werden. Die Aktien werden zur Begleichung von Finanzberatungs-, Beratungs- und Managementgebühren ausgegeben, wobei einer der Empfänger ein Firmenoffizier ist. Diese Transaktion stellt eine "Transaktion mit nahestehenden Parteien" gemäß MI 61-101 dar, wird jedoch voraussichtlich von den Anforderungen an eine formelle Bewertung und die Zustimmung der Minderheitsaktionäre ausgenommen sein. Alle ausgegebenen Aktien unterliegen einer viermonatigen Sperrfrist, und die Transaktion erfordert die Genehmigung der TSX Venture Exchange.
- Reduction of company's accrued liabilities without cash expenditure
- Management's willingness to accept shares instead of cash payments shows confidence in the company
- Share issuance will result in dilution for existing shareholders
- Related party transaction raises potential conflict of interest concerns
Vancouver, British Columbia--(Newsfile Corp. - May 16, 2025) - Sage Potash Corp. (TSXV: SAGE) (OTCQB: SGPTF) ("Sage Potash" or the "Company") announces shares for debt transactions for an aggregate of 1,222,222 common shares of the Company (the "Shares for Debt Transactions").
Pursuant to the Shares for Debt Transactions, subject to approval of the TSX Venture Exchange ("TSXV"), the Company has agreed to issue an aggregate 1,222,222 common shares in the capital of Sage Potash ("Common Shares") to certain parties, one (1) of whom is an officer of the Company.
The Shares for Debt Transactions are being completed to settle amounts owed in respect of financial advisory, consulting and management fees incurred by the Company.
Subject to TSXV approval, the Common Shares to be issued pursuant to the Shares for Debt Transactions will be issued at a deemed price of
The proposed issuance of securities to an officer of the Company as part of the Shares for Debt Transactions will be a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company expects that such issuance of securities to an officer will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the Company is listed on the TSXV 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 Shares for Debt Transactions is subject to TSXV acceptance.
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 Shares for Debt Transactions, including regarding closing of such transactions 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/252489
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