Sage Potash Stock Rises as Company Secures Funding for Mineral Property Advancements

Shares of the mining company Sage Potash Corp. (TSXV: SAGE) (OTC: SGPTF) surged Thursday morning, following the announcement of a successful private placement that will fund the advancement of its mineral properties. The stock climbed 12.5% in the early hours of Thursday to $0.35. Sage Potash shares started the year at $0.20, and have been trading in the $0.30 range since the spring of 2024. In an announcement made on May 27, 2024, Sage Potash said it had closed a non-brokered private placement of 13,500,000 common shares for total proceeds of $1,822,500.

The successful private placement is a positive development for Sage Potash, as it provides the company with the necessary funds to advance its mineral properties and for general administration expenses. The proceeds will be used to fund exploration, drilling, and other related activities, as well as to cover general administration expenses such as salaries, office expenses, and other overhead costs.



Sage Potash's strategic land and mineral portfolio hosts a significant inferred resource of 280MMT of high-grade, clean chemistry potash. This resource potential, along with the company's pilot production strategy and permitting for water access, cavern development, and waste disposal wells, positions Sage Potash as a promising player in the domestic potash production scene within the Paradox Basin in Utah.

The company's CEO, Peter Hogendoorn, commented on the successful private placement: "We are extremely pleased to have attracted strategic investors who understand and appreciate the value of our project, namely a comprehensive and strategic land and mineral portfolio hosting a 280MMT inferred resource* of high-grade, clean chemistry potash, with a pilot production strategy in place and permitting to water access, cavern development and waste disposal wells. We look forward to providing further updates of fundamental developments as we advance our project."



The successful private placement comes at a time when Sage Potash is well-positioned to capitalize on the growing demand for potash, a key ingredient in fertilizers. The company's focus on sustainable solution mining techniques also aligns with the increasing emphasis on environmental responsibility in the mining industry.

In conclusion, the successful private placement by Sage Potash Corp. is a positive development for the company, providing it with the necessary funds to advance its mineral properties and position itself as a prominent domestic potash producer. With a strong resource potential, a clear production strategy, and a commitment to sustainable mining techniques, Sage Potash is well-positioned to capitalize on the growing demand for potash and create value for its shareholders.