Pacific Potash Closes $2.1 Million Private Placement
June 28 2013 - 6:45PM
Access Wire
Vancouver, British
Columbia - June 28th, 2013 - Pacific Potash Corporation
(TSX-V: PP; OTCQX: PPOTF; FSE: P9P, "the Company") is pleased to
announce that it has closed its previously announced 20,000,000
units at $0.105 for gross proceeds of $2,100,000. Each unit of the
offering consisted of one common share of Pacific Potash and one
common share purchase warrant. Each warrant entitles the holder to
purchase one share at a price of 13 cents for a period of 30 months
following the closing date of the offering.
The gross proceeds of the offering,
in combination with previously announced financings, will provide
Pacific Potash with $6.35 million of gross proceeds. This new
capital will enable the Company to carry out a comprehensive
exploration and drill program later this year.
In compliance with
Canadian Securities law, all securities issued in connection with
the closing of the private placement are subject to a four month
hold period that will expire on October 29, 2013.
The Company also
wishes to announce the appointment of Mr. Robert Coltura
is to the Board of Directors. Mr. Coltura has
several years' experience with venture companies including Panthera
Exploration Inc., BonTerra Resources Inc., Fairmont Resources Inc.
Mega Copper Ltd and GoldStar Minerals Inc. He will aid the Company with the Board's corporate governance
responsibilities.
About Pacific
Potash Corporation
Pacific Potash Corporation trades on
the TSX Venture Exchange under the symbol: PP, as well on the OTCQX
under the symbol: PPOTF and on the Frankfurt Stock Exchange under
P9P. Pacific Potash is engaged in the exploration and development
of the Amazonas Basin Project and the surrounding potash claims
targeting the Middle Amazonas Potash Basin, currently the host to
multiple new exploration campaigns for potash. The Company also is
exploring the Provost Potash Property and the surrounding potash
claims targeting the prolific Prairie Evaporite Formation, which is
host to multiple conventional and solution potash mines.
On behalf of the Board,
Pacific Potash
Corporation
Balbir Johal, LL.B
Executive Co-Chairman
& Director
For further
information, please visit our website at www.pacificpotash.com
or contact our V.P of Corporate Communications, Mike
Blady:
Mike Blady
Office:
604.895.7446
Email:
mblady@pacificpotash.com
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Caution
concerning forward-looking information
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future
activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute
forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar
terminology, and reflect assumptions, estimates, opinions and
analysis made by management of Pacific Potash in light of its
experience, current conditions, expectations of future developments
and other factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and
unknown risks and uncertainties that may cause Pacific Potash's
actual results, performance and achievements to differ materially
from those expressed or implied by the forward-looking information
and statements and accordingly, undue reliance should not be placed
thereon.
Risks and uncertainties that may cause actual results to vary
include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with
applicable laws and regulations, including environmental laws and
obtaining requisite permits; political, economic and other risks;
as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities
regulatory authorities and available at www.sedar.com. Pacific Potash disclaims any obligation to
update or revise any forward-looking information or statements
except as may be required.
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