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The latest announcement is out from Sage Potash Corp. ( (TSE:SAGE) ).
Sage Potash Corp. has closed the second and final tranche of its previously announced unit private placement, issuing an additional 7,595,000 units at $0.20 each for gross proceeds of $1.52 million, bringing the total financing to 65,031,000 units and $13.01 million in aggregate proceeds. Each unit comprises one common share and one three-year warrant exercisable at $0.30, with funds earmarked primarily to advance key technical work recommended in the company’s Preliminary Economic Assessment, including stratigraphic drilling, core analysis, testing, and engineering review, as well as for working capital and general corporate purposes. The financing included insider participation totaling 6,025,000 units, treated as a related-party transaction but exempt from formal valuation and minority approval requirements under securities regulation, and has received conditional approval from the TSX Venture Exchange, reinforcing the company’s funding base as it progresses its Utah potash project toward potential development.
More about Sage Potash Corp.
Sage Potash Corp. is a potash development company focused on its flagship Sage Plain Potash Project in the Paradox Basin, Utah, where it aims to build a secure, sustainable domestic potash production platform serving U.S. agriculture and food security needs while emphasizing environmental stewardship and long-term value creation for shareholders and stakeholders.
Average Trading Volume: 566,175
Technical Sentiment Signal: Sell
Current Market Cap: C$20.35M
For an in-depth examination of SAGE stock, go to TipRanks’ Overview page.