RE: Market caps, AAA=300 million, PPI= 60 millionPPI
VANCOUVER, BRITISH COLUMBIA, Feb. 4, 2011 (Marketwire) --
Passport Potash Inc. (TSX VENTURE:PPI) wishes to announce that it hasclosed the private placement announced on January 18, 2011 for grossproceeds to the company totaling $7,107,500. The Company has issued
28,430,000 common shares at a price of
.25 with a share purchaseoption, exercisable at
.35 for a two year term to January 30, 2013.The shares have a hold period to June 3, 2011. The proceeds of$7,107,500 will be used for exploration and drilling at Holbrookproperties in Arizona
November 30 , 2010
Outstanding shares 71,718,732
That will make 128 ,580,000 fully diluted.
Current market cap $188 million.
With a current price of $1.47 there will be lots of selling when those .25 shares and warrants become free trading.