Funds from non-brokered deal intended for general corporate purposes
By Devika Patel
Knoxville, Tenn., May 18 - Organic Potash Corp. announced it plans a C$1.5 million non-brokered, best-efforts private placement of three-year 10% convertible secured debentures.
Settlement is expected July 9.
Proceeds will be used to complete the K2 prototype plant and general corporate purposes.
The potash manufacturer is based in Brampton, Ont.
| Issuer: | Organic Potash Corp.
|
| Issue: | Convertible secured debentures
|
| Amount: | C$1.5 million
|
| Maturity: | Three years
|
| Coupon: | 10%
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | May 18
|
| Settlement date: | July 9
|
| Stock symbol: | CNSX: GOP
|
| Stock price: | C$0.10 at close May 18
|
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