TORONTO, June 30, 2017 /CNW/ - Potash Ridge Corporation
("Potash Ridge" or the "Corporation") (TSX: PRK), a near term producer of premium fertilizer in North
America, today announced an amendment to the cash commissions payable in connection with the closing of its non-brokered
private placement (the "Private Placement") announced on June 29, 2017.
Gross proceeds from the Private Placement was $880,000. The Private Placement offering of units
("Units") was at a price of $0.24 per Unit. Each Unit is comprised of one common share in the
capital of Potash Ridge (a "Common Share") and one-half of one Common Share purchase warrant, with each whole warrant ("Warrant")
entitling the holder to purchase one Common Share at $0.50 for a period of three years form the
date of closing. The Corporation issued 3,666,667 Common Shares and 1,833,333 Warrants upon closing.
In connection with the Private Placement, the Corporation has agreed to pay cash commissions totaling $52,200.
All securities issued in connection with the Private Placement are subject to restricted period that expires four months plus
one day following the date of issuance. The Private Placement is subject to requisite regulatory approvals.
The proceeds from the private placement with be used to advance the Blawn Mountain project and for general corporate
purposes.
About Potash Ridge
Potash Ridge's strategy is to become a premier producer of potassium sulphate or SOP in North America. The
Corporation owns two SOP projects: the Valleyfield project that plans to produce SOP through the Mannheim Process; and
the Blawn Mountain project in Utah that plans to produce SOP by processing an alunite material. Potash
Ridge has a highly qualified and proven management team in place with significant financial, project management and
operational experience and the ability to take projects into production.
Forward-Looking Statements
This press release contains forward-looking statements, which reflect the Corporation's expectations regarding
future growth, results of operations, performance and business prospects. These forward-looking statements include statements
related to advancing the Valleyfield Project and may also include statements that are predictive in nature, or that depend upon
or refer to future events or conditions, and can generally be identified by words such as "may", "will", "expects",
"anticipates", "intends", "plans", "believes", "estimates", "guidance" or similar expressions. In addition, any statements that
refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.
These statements are not historical facts but instead represent the Corporation's expectations, estimates and projections
regarding future events. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Corporation, are inherently subject to significant business, economic and competitive uncertainties
and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the
forward-looking statements. Such factors include, but are not limited to: the state of the equity capital markets; the receipt of
any required approvals for the private placement; the future financial or operating performance of the Corporation and its
subsidiaries and its mineral projects; the anticipated results of exploration activities; the estimation of mineral resources;
the realization of mineral resource estimates; capital, development, operating and exploration expenditures; costs and timing of
the development of the Corporation's mineral projects; timing of future exploration; requirements for additional capital; climate
conditions; government regulation of mining operations; anticipated results of economic and technical studies; environmental
matters; receipt of the necessary permits, approvals and licenses in connection with exploration and development activities;
appropriation of the necessary water rights and water sources; changes in commodity prices; recruiting and retaining key
employees; construction delays; litigation; competition in the mining industry; reclamation expenses; reliability of historical
exploration work; reliance on historical information acquired by the Corporation; optimization of technology to be employed by
the Corporation; title disputes or claims and other similar matters.
If any of the assumptions or estimates made by management prove to be incorrect, actual results and developments are likely
to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained herein. Such
assumptions include, but are not limited to, the following: that general business, economic, competitive, political and social
uncertainties remain favorable; that agriculture fertilizers are expected to be a major driver in increasing yields to address
demand for premium produce, such as fruits and vegetables, as well as diversified protein rich diets necessitating grains and
other animal feed; that actual results of exploration activities justify further studies and development of the Corporation's
mineral projects; that the future prices of minerals remain at levels that justify the exploration and future development and
operation of the Corporation's mineral projects; that there is no failure of plant, equipment or processes to operate as
anticipated; that accidents, labour disputes and other risks of the mining industry do not occur; that there are no unanticipated
delays in obtaining governmental approvals or financing or in the completion of future studies, development or construction
activities; that the actual costs of exploration and studies remain within budgeted amounts; that regulatory and legal
requirements required for exploration or development activities do not change in any adverse manner; that input cost assumptions
do not change in any adverse manner, as well as those factors discussed in the section entitled "Risk Factors" in the
Corporation's Annual Information Form (AIF) for the year-ended December 31, 2016 found
on sedar.com. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as
a result of new information, future events or otherwise, except as required by applicable law.
SOURCE Potash Ridge Corporation
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