Vancouver, British Columbia, April 30, 2021, Prophecy Potash Corp. (the “Company”) (CSE: NUGT) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement”) of 10,000,000 units (“Units”) at a price of $0.10 per Unit for gross proceeds of $1,000,000.
Each Unit is comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional Common Share at a price of $0.12 for a period of 24 months. All securities issued under the Private Placement are subject to a four month hold period.
The Company did not pay any commissions or finder’s fees in connection with the Private Placement. The Company intends to use the net proceeds of the Private Placement for general administrative and working capital purposes and to evaluate and pursue new business opportunities.
ON BEHALF OF THE BOARD OF DIRECTORS
Further information about the Company is available under its profile on the SEDAR website, www.sedar.com.
Neither CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward‐looking statements”. Forward‐looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.