Buffalo Potash Announces Closing of Second and Final Tranche of Oversubscribed and Upsized C$14.85 Million Non-Brokered Private Placement

Buffalo Potash Corporation closed the second and final tranche of its non-brokered private placement on June 29, 2026. The offering was oversubscribed and upsized by 10% to a total of C$14,850,001.96 in gross proceeds. Securities issued include Hard Dollar Units, Flow-Through Shares, and Charity Flow-Through Units, priced between C$0.45 and C$0.558.

Proceeds are allocated to funding the downhole infrastructure buildout of the Initial Production Module (IPM) at the Disley Project and general working capital. The transaction includes 24-month warrants exercisable at C$0.60, with an acceleration clause if the TSXV VWAP reaches C$0.90 for 10 consecutive days. Tax expense renunciations for exploration and development expenses are scheduled for completion by December 31, 2026.

Buffalo Potash Corporation (BUFF) has closed a previously announced capital raise, injecting approximately C$14.85 million into its balance sheet to address the Q1 2026 going concern flag. The financing provides necessary liquidity to advance the IPM construction phase, with the company targeting early 2027 commercial operations for 125,000 TPA of soluble-grade potash.

The terms of the deal are standard for a venture-stage mining company, involving the issuance of approximately 28 million securities against the 81 million shares currently outstanding. No new strategic investors or control changes were introduced, and executive participation was minimal at approximately C$77k. The transaction aligns with prior expectations and does not alter the fundamental development timeline or project economics outlined in the April 2026 Preliminary Economic Assessment.

Buffalo Potash Corporation is a pre-revenue mineral exploration and development company based in Saskatchewan, Canada. Its flagship Disley Project is a 9,413-hectare property located approximately 50 km northwest of Regina, immediately adjacent to the K+S Bethune and Mosaic Belle Plaine solution mines. The company utilizes a patented Horizontal Line-Drive (HLD) selective solution mining method, leveraging mature oil and gas drilling techniques to reduce freshwater use and well counts compared to conventional vertical cavern development.

A Preliminary Economic Assessment (PEA) completed in April 2026 outlined a 1,671.5 Mt Measured & Indicated resource grading 34.8% KCl. The assessment calculated an after-tax NPV(8%) of US$1.1B and an IRR of 30%. Phased development targets 125,000 TPA soluble MOP by January 2027 under the Initial Production Model (IPM), scaling to 1,000,000 TPA granular MOP by 2029.