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.