PON Potash North Resource (Tier2)

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

Potash North Resource Corporation (TSX VENTURE:PON) (the "Company") is pleased
to announce that it has entered into an agreement for an overnight-marketed
private placement with a syndicate of agents (the "Agents") led by Canaccord
Capital Corp. Pricing will be determined in the context of the market for gross
proceeds of approximately $25,000,000 million in units (the "Units"). Each Unit
is comprised of one common share and one common share purchase warrant. The
Company has granted the Agents an over-allotment option to solicit an additional
$5,000,000 in Units, exercisable 48 hours prior to closing.


The offering is expected to close on or about July 7, 2008 and is subject to
certain conditions, including regulatory approval.


Net proceeds from the offering will be used to fund the exploration, evaluation
and potential development of the Company's KP416 and KP417 potash permits in
Saskatchewan and for general corporate purposes.


The securities being offered have not, nor will they be registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S. registration
requirements. This release does not constitute an offer for sale of securities
in the United States.


ON BEHALF OF THE BOARD

Potash North Resource Corporation

David Baker, President

This news release does not constitute an offer to sell or solicitation of an
offer to sell any securities in the United States. The securities have not been
and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.


Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press
release relative to markets about anticipated future events or results
constitute forward-looking statements. Forward-looking statements are often, but
not always, identified by the use of words such as "seek", "anticipate",
"believe", "plan", "estimate", "expect" and "intend" and statements that an
event or result "may", "will", "should", "could" or "might" occur or be achieved
and other similar expressions. Forward-looking statements are subject to
business and economic risks and uncertainties and other factors that could cause
actual results of operations to differ materially from those contained in the
forward-looking statements. Forward-looking statements are based on estimates
and opinions of management at the date the statements are made. The Company does
not undertake any obligation to update forward-looking statements even if
circumstances or management's estimates or opinions should change. Investors
should not place undue reliance on forward-looking statements.

Potash North Resource (Tier2) (TSXV:PON)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Potash North Resource (Tier2) (TSXV:PON)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024