Mr. Jonathan George reports
AMERICAN POTASH ANNOUNCES PROPOSED PRIVATE PLACEMENT
American Potash Corp. has arranged a non-brokered private placement of up to 10 million units at a price of five cents to
raise gross proceeds of up to $500,000. Each unit will consist of one common share of
the company and one common share purchase warrant. Each warrant will entitle the holder to
acquire one additional common share at an exercise price of 7.5 cents for a period of three years following closing of
the private placement.
The company may pay finders' fees in the amount of 8 per cent in cash and issue finders' warrants equal to 8 per cent of the number
of units placed by such finder on all or a portion of the private placement. The finders' warrants will have the same
terms of the warrants forming part of the units.
The company intends to use the net proceeds of the private placement for exploration work on its properties, for
additional staking and for working capital. Completion of the private placement remains subject to the approval of
the Canadian Securities Exchange.
We seek Safe Harbor.
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