Sage Potash Closes First Tranche of Unit Financing

Executive Summary

• Sage Potash closed the first tranche of its previously announced unit private placement, issuing 57,436,000 units at $0.20 each for total gross proceeds of $11.487 million.
• Proceeds will fund key recommendations from RESPEC LLC’s Preliminary Economic Assessment, including drilling, core analysis, testing and engineering review, as well as working capital and general corporate purposes.
• The offering includes non‑transferable common share purchase warrants exercisable at $0.30 per share for three years; finders received a 6% cash/stock fee plus 6% broker warrants.

Key Details

• Units Issued: 57,436,000 (each unit = 1 common share + 1 non‑transferable warrant).
• Unit Price: $0.20 per unit.
• Gross Proceeds: $11,487,200.
• Warrant Terms: Each warrant exercisable at $0.30 per share for a period of three (3) years from closing.
• Use of Proceeds:
• Commence work recommended by RESPEC LLC in the November 6 2025 Preliminary Economic Assessment – drilling of a stratigraphic hole, drill core analysis, testing and engineering review.
• Working capital and general & administrative expenses.
• Finder’s Compensation: 6% fee payable in cash or common shares; additional 6% non‑transferable broker warrants exercisable at $0.30 per share for three years.
• Holding Period: All securities subject to a four‑month‑plus‑one‑day hold period under applicable securities laws.
• Related Party Participation: Certain directors and officers acquired securities; transaction exempt from MI 61‑101 valuation/minority approval thresholds.
• Future Tranches: Remaining tranches expected to close in January 2026, pending customary final filings.
• Exchange Approval: Conditionally approved by the TSX Venture Exchange, subject to standard conditions.

Notable Quotes

(No direct quotes were provided in the release.)