Potash Ridge closes $880K private placement

pcNewsWire Potash Ridge Corporation (TSX: PRK), a near term producer of premium fertilizer in North America, has closed previously announced non-brokered private placement 3,666,667 units at $0.24 per unit for $880,000.

The proceeds from the private placement will be used to advance the Blawn Mountain project and for general corporate purposes.

News Release

Potash Ridge Announces Closing of Increased Private Placement

TORONTO, ONTARIO – June 29, 2017 – Potash Ridge Corporation (“Potash Ridge” or the “Corporation”) (TSX: PRK), a near term producer of premium fertilizer in North America, today announced the closing of the non-brokered private placement (the “Private Placement”) originally announced on June 28, 2017.

Due to demand, the Private Placement was increased from $750,000 to $880,000. The Private Placement offering of units (“Units”) was at a price of $0.24 per Unit. Each Unit is comprised of one common share in the capital of Potash Ridge (a “Common Share”) and one-half of one Common Share purchase warrant, with each whole warrant (“Warrant”) entitling the holder to purchase one Common Share at $0.50 for a period of three years from the date of closing. The Corporation issued 3,666,667 Common Shares and 1,833,333 Warrants upon closing.

In connection with the Private Placement, the Corporation has agreed to pay cash commissions totaling $7,200.

All securities issued in connection with the Private Placement are subject to restricted period that expires four months plus one day following the date of issuance. The Private Placement is subject to requisite regulatory approvals.

The proceeds from the private placement will be used to advance the Blawn Mountain project and for general corporate purposes.

About Potash Ridge

Potash Ridge’s strategy is to become a premier producer of potassium sulphate or SOP in North America. The Corporation owns two SOP projects: the Valleyfield project that plans to produce SOP through the Mannheim Process; and the Blawn Mountain project in Utah that plans to produce SOP by processing an alunite material. Potash Ridge has a highly qualified and proven management team in place with significant financial, project management and operational experience and the ability to take projects into production.

Ross Phillips
Chief Operating Officer
O: 416-362-8640 ext. 103
rphillips@potashridge.com

Petra Decher
Chief Financial Officer
O: 416-362-8640 ext. 104
pdecher@potashridge.com