Sage Potash Announces Shares for Debt Transactions
Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF) has announced shares for debt transactions involving the issuance of 1,222,222 common shares at a deemed price of $0.27 per share. The shares will be issued to settle financial advisory, consulting, and management fees, with one recipient being a company officer. This transaction constitutes a "related party transaction" under MI 61-101, though it's expected to be exempt from formal valuation and minority shareholder approval requirements. All issued shares will be subject to a four-month hold period, and the transaction requires TSX Venture Exchange approval.
Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF) ha annunciato operazioni di scambio azioni per debiti, con l'emissione di 1.222.222 azioni ordinarie a un prezzo imputato di 0,27$ per azione. Le azioni saranno emesse per saldare compensi per consulenza finanziaria, consulenza e gestione, con uno dei beneficiari che 猫 un dirigente della societ脿. Questa operazione costituisce una "transazione con parti correlate" ai sensi del MI 61-101, anche se si prevede che sia esente dai requisiti di valutazione formale e approvazione da parte degli azionisti di minoranza. Tutte le azioni emesse saranno soggette a un periodo di blocco di quattro mesi e l'operazione necessita dell'approvazione della TSX Venture Exchange.
Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF) ha anunciado transacciones de acciones por deuda que implican la emisi贸n de 1,222,222 acciones comunes a un precio presunto de $0.27 por acci贸n. Las acciones se emitir谩n para saldar honorarios por asesor铆a financiera, consultor铆a y gesti贸n, siendo uno de los beneficiarios un funcionario de la empresa. Esta transacci贸n constituye una "transacci贸n con partes relacionadas" seg煤n MI 61-101, aunque se espera que est茅 exenta de los requisitos formales de valoraci贸n y aprobaci贸n por parte de accionistas minoritarios. Todas las acciones emitidas estar谩n sujetas a un periodo de retenci贸n de cuatro meses y la transacci贸n requiere la aprobaci贸n de la Bolsa de Valores TSX Venture.
Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF)鞚� 1,222,222 氤错喌欤�毳� 欤茧嫻 $0.27鞚� 韽夑皜 臧�瓴╈溂搿� 氚滍枆頃橂姅 攵�毂� 雽� 欤检嫕 瓯半灅毳� 氚滍憸頄堨姷雼堧嫟. 鞚� 欤检嫕霌れ潃 旮堨湹 鞛愲, 旎劋韺� 氚� 瓴届榿 靾橃垬耄岆ゼ 鞝曥偘頃橁赴 鞙勴暣 氚滍枆霅橂┌, 靾橂牴鞚� 欷� 頃� 氇呾潃 須岇偓 鞛勳洂鞛呺媹雼�. 鞚� 瓯半灅電� MI 61-101鞐� 霐半ジ "韸轨垬甏�瓿勳瀽 瓯半灅"鞐� 頃措嫻頃橃毵�, 瓿奠嫕 韽夑皜 氚� 靻岇垬 欤检＜ 鞀轨澑 鞖旉贝鞚� 氅挫牅霅� 瓴冹溂搿� 鞓堨儊霅╇媹雼�. 氚滍枆霅� 氇摖 欤检嫕鞚� 4臧滌洈鞚� 氤错樃鞓堨垬 旮瓣皠鞚� 鞝侅毄霅橂┌, 瓯半灅電� TSX 氩れ矘 瓯半灅靻岇潣 鞀轨澑鞚� 頃勳殧搿� 頃╇媹雼�.
Sage Potash Corp (TSXV : SAGE) (OTCQB : SGPTF) a annonc茅 des transactions d'actions contre dettes impliquant l'茅mission de 1 222 222 actions ordinaires 脿 un prix r茅put茅 de 0,27 $ par action. Les actions seront 茅mises pour r茅gler des frais de conseil financier, de consultation et de gestion, dont un b茅n茅ficiaire est un dirigeant de la soci茅t茅. Cette transaction constitue une "transaction entre parties li茅es" selon le MI 61-101, bien qu'elle soit cens茅e 锚tre exempt茅e des exigences formelles d'茅valuation et d'approbation des actionnaires minoritaires. Toutes les actions 茅mises seront soumises 脿 une p茅riode de blocage de quatre mois, et la transaction n茅cessite l'approbation de la TSX Venture Exchange.
Sage Potash Corp (TSXV: SAGE) (OTCQB: SGPTF) hat Aktien-gegen-Schulden-Transaktionen angek眉ndigt, bei denen 1.222.222 Stammaktien zu einem angenommenen Preis von 0,27 $ pro Aktie ausgegeben werden. Die Aktien werden zur Begleichung von Finanzberatungs-, Beratungs- und Managementgeb眉hren ausgegeben, wobei einer der Empf盲nger ein Firmenoffizier ist. Diese Transaktion stellt eine "Transaktion mit nahestehenden Parteien" gem盲脽 MI 61-101 dar, wird jedoch voraussichtlich von den Anforderungen an eine formelle Bewertung und die Zustimmung der Minderheitsaktion盲re ausgenommen sein. Alle ausgegebenen Aktien unterliegen einer viermonatigen Sperrfrist, und die Transaktion erfordert die Genehmigung der TSX Venture Exchange.
- Reduction of company's accrued liabilities without cash expenditure
- Management's willingness to accept shares instead of cash payments shows confidence in the company
- Share issuance will result in dilution for existing shareholders
- Related party transaction raises potential conflict of interest concerns
Vancouver, British Columbia--(Newsfile Corp. - May 16, 2025) - Sage Potash Corp. (TSXV: SAGE) (OTCQB: SGPTF) ("Sage Potash" or the "Company") announces shares for debt transactions for an aggregate of 1,222,222 common shares of the Company (the "Shares for Debt Transactions").
Pursuant to the Shares for Debt Transactions, subject to approval of the TSX Venture Exchange ("TSXV"), the Company has agreed to issue an aggregate 1,222,222 common shares in the capital of Sage Potash ("Common Shares") to certain parties, one (1) of whom is an officer of the Company.
The Shares for Debt Transactions are being completed to settle amounts owed in respect of financial advisory, consulting and management fees incurred by the Company.
Subject to TSXV approval, the Common Shares to be issued pursuant to the Shares for Debt Transactions will be issued at a deemed price of
The proposed issuance of securities to an officer of the Company as part of the Shares for Debt Transactions will be a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company expects that such issuance of securities to an officer will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the Company is listed on the TSXV and neither the expected fair market value of securities being issued to related parties nor the consideration being paid by related parties would exceed
Closing of the Shares for Debt Transactions is subject to TSXV acceptance.
About Sage Potash Corp.
Sage Potash is a Canadian company vested solely in the Sage Plain Property and intends through sustainable solution mining techniques to become a prominent domestic potash producer within the Paradox Basin situated in Utah. For further information, please refer to the Company's disclosure record on SEDAR+ () or contact the Company by email at [email protected].
On Behalf of the Board of Directors,
Peter Hogendoorn
CEO & Executive Chairman
+1(604) 764-2158
Website:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this news release includes, but is not limited to, statements with respect to future events or future performance of Sage Potash and with respect to the Shares for Debt Transactions, including regarding closing of such transactions and the proposed issuance of securities. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors and Uncertainties" in the Company's Management's Discussion & Analysis available for review under the Company's profile at . Such forward-looking information represents management's best judgement based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
For media inquiries, please contact: Marcus van der Made, Investor Relations of Sage Potash Corp. - [email protected].
To view the source version of this press release, please visit
FAQ
What is the value of Sage Potash's (SGPTF) shares for debt transaction?
Why is Sage Potash (SGPTF) issuing shares for debt?
How long is the hold period for Sage Potash's (SGPTF) newly issued shares?
Does Sage Potash's (SGPTF) shares for debt transaction require regulatory approval?
Is Sage Potash's (SGPTF) shares for debt transaction a related party transaction?
