American Potash Closes PP on $1,292,000 @0.10 cents Vancouver, B.C., August 9, 2017: American Potash Corporation ( New Tech Lithium) (the “Company”) (AMP:CSE) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement”) for 12,920,000 Units (“Units”) at a price of $0.10 per Unit to raise total proceeds of $1,292,000.
Each Unit will be comprised of one common share of the Issuer (a “Share”) and one common share purchase warrant of the Issuer (each whole warrant, a “Warrant”). Each Warrant will be exercisable into a common share of the Company (a “Warrant Share”) for a period of 12 months at an exercise price of CDN$0.15 during the one year.
Shares issued pursuant to this Private Placement are subject to a four-month hold period from the closing date in accordance with applicable securities laws and, if required the policies of the Exchange. Finder’s fees or commissions may be payable by the Company in connection with this Private Placement.
The proceeds of this private placement are for property, general purposes and working capital.