pcNewsWire – American Potash Corporation (CSE: AMP) has increased the total amount of proceeds of its previously announced private placement from $200,000 to $227,500 and closed first tranche raising $207,500 through the issuance of 2,075,000 units at $0.10 per unit.
Proceeds will be used for general working capital and property acquisitions.
American Potash Increases Private Placement, Closes First Tranche of Private Placement for $207,500 and Issues Options
Vancouver, B.C., June 1, 2017: American Potash Corporation (the “Company”) (AMP:CSE) announces that it has increased the total amount of proceeds of its previously announced private placement from $200,000 to $227,500. All other terms will remain the same.
The company will also like to announce that it has closed the first tranche of its previously announced non-brokered private placement (the “Private Placement”) for 2,075,000 Units (“Units”) at a price of $0.10 per Unit to raise the rest of the total proceeds of $207,500 out of $227,500.
Each Unit will be comprised of one common share of the Issuer (a “Share”) and one common share purchase warrant of the Issuer (each whole warrant, a “Warrant”). Each Warrant will be exercisable into a common share of the Company (a “Warrant Share”) for a period of 12 months at an exercise price of CDN$0.15 during the one year.
The proceeds of this private placement are for the Company’s general working capital and property acquisitions.
About American Potash
American Potash is a public company focused on discovery, development and production of potassium and lithium resources in the Paradox Basin, Utah and elsewhere. American Potash currently holds exclusive rights to over 27,000 acres in the Paradox Basin with US federal potash permit applications. In 2016 American Potash acquired lithium mining claims and Utah State lithium leases totaling approximately 25,300 acres.
On behalf of the Board of Directors
“Rudy de Jonge”
Rudy de Jonge, CEO
Neither the OTCQX nor the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: American Potash Corporation