Business
Sage Potash Closes First Tranche of Unit Financing
Vancouver, British Columbia--(Newsfile Corp. - December 23, 2025) - Sage Potash Corp. (TSXV: SAGE...
About this update from Sage Potash Corp.
[{"type":"text","content":"Sage Potash Closes First Tranche of Unit FinancingVancouver, British Columbia--(Newsfile Corp. - December 23, 2025) - Sage Potash Corp. (TSXV: SAGE) (OTCQB: SGPTF) (\"Sage Potash\" or the \"Company\") is pleased to announce that it has closed a first tranche of its previously announced unit private placement financing (the \"Offering\").Pursuant to this first tranche closing of the Offering, the Company has issued 57,436,000 units (the \"Units\") at a price of $0.20 per Unit, for aggregate gross proceeds to the Company of $11,487,200. Each Unit consists of one common share in the capital of the Company (a \"Common Share\") and one non-transferable Common Share purchase warrant (a \"Warrant\"). Each Warrant will be exercisable to purchase one Common Share at a price of $0.30 for a period of three (3) years from the date of closing of the Offering. Proceeds of the Offering will be used primarily to commence the work necessary to carry out key recommendations made by internationally recognized engineering firm, RESPEC LLC, in the Company's recently filed Preliminary Economic Assessment (see November 6, 2025 news release), including drilling of a stratigraphic hole, drill core analysis and testing and engineering review. The proceeds will also be used for working capital and for general and administrative expense purposes. Finders received a 6% fee payable in cash or Common Shares, and 6% non-transferable broker warrants exercisable for Common Shares of the Company at $0.30 per share for three years. All securities issued under the Offering will be subject to a hold period of four months and one day from the date of issuance under applicable securities laws. Certain directors and officers of the Company acquired securities under the Offering. Such participation is considered a \"related party transaction\" as defined under Multilateral Instrument 61-101 (\"MI 61-101\"). The Offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the Company is listed on the TSX Venture Exchange and neither the expected fair market value of securities being issued to related parties nor the consideration being paid by related parties would exceed 25% of the Company's market capitalization.The subsequent or final tranches of the Offering are expected to close in January, 2026. The TSX Venture Exchang...