VANCOUVER, BC, Sept. 11,
2024 /CNW/ - Sage Potash Corp. (TSXV: SAGE)
(OTC: SGPTF) ("Sage" or the "Company") is pleased to
announce that its common shares will resume trading on the TSX
Venture Exchange ("TSXV") at 8 a.m.
EST on September 11, 2024.
The shares were halted from trading on September 9, 2024, as a result of the TSXV's
request to review the transaction between the Company and a
subsidiary of International Process Plants ("IPP") as a
"Fundamental Acquisition", as that term is defined under TSXV
policies. The Company's purchase of equipment from IPP for
$12.6 million was previously reported
in a news release dated September 9,
2024.
In the same news release, the Company announced a non-brokered
private placement (the "Private Placement") of 37.6 million common
shares at $0.20 each for gross
proceeds of $7.52 million and
convertible debentures with an aggregate principal amount of
$3.78 million. The gross proceeds of
the Private Placement of $11.3
million will be used to satisfy the obligations under the
Purchase Agreement and for equipment-related purposes such as
packing, logistics, modifications, interest and general working
capital.
The Private Placement is integral to the proposed transactions
under the Purchase Agreement and thus the Company will be relying
on the "part and parcel pricing exception" provided for in the
policies of the TSXV. The Private Placement and transactions
contemplated under the Purchase Agreement are subject to acceptance
by the TSXV. All securities issued under the Private
Placement and the Purchase Agreement will be subject to a hold
period of four months.
This news release follows the news release on September 9 2024 "Sage Potash Announces
Equipment Purchase And Financing."
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
(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. 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.
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SOURCE Sage Potash Corp.