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 info@sagepotash.com.
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.
