Funds used to expand, improve current commercial production capacity
By Devika Patel
Knoxville, Tenn., June 10 - Organic Potash Corp. said it plans a C$1 million non-brokered private placement of units.
The company will sell 10 million units of one common share and a half-share warrant at C$0.10 per unit.
Each whole warrant is exercisable at C$0.30 for 18 months. The strike price is a 200% premium to the June 7 closing share price of C$0.10.
Settlement is expected on June 20.
Proceeds will be used to expand and improve commercial production capacity at OPC's Tema Production Plant, as working capital for inventory and production purposes and for general corporate purposes.
The potash manufacturer is based in Brampton, Ont.
| Issuer: | Organic Potash Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | June 10
|
| Settlement date: | June 20
|
| Stock symbol: | CNSX: OPC
|
| Stock price: | C$0.10 at close June 7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
