Potash One fka KCL

[Catchnrel]

Potash One Announces Closing of Equity Financing
Monday January 7, 11:17 am ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jan 7, 2008 -- Potash One Inc. (the "Company" or "Potash One") (CDNX:KCL.V - News) is pleased to announce that it has completed a non-brokered equity private placement of 4.15 million units at a price of $2.65 per unit for net proceeds of $10,997,500 (the "Placement"), as previously reported in its news release on December 19, 2007. A total of 206,250 units, representing 5% of certain subscriptions were issued to certain finders for introducing the subscribers to the Company.

The proceeds from the Placement will be used to expedite the development of the Company's Legacy Potash Project in Saskatchewan and for general corporate purposes.

Paul F. Matysek., President and Chief Executive Officer of Potash One Inc., said: "We are very pleased with the overwhelming level of interest that was expressed in the Placement. We can now accelerate our development plans as we move into 2008."

The Company appreciates the strong commitment provided by Front Street Capital & Ceres Global Ag Corp. (Toronto:CRP-UN.TO - News) and welcomes them as shareholders.

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

The Company controls over 97,000 acres of previously explored potash-bearing property which is directly adjacent to a large producing potash mine to the south of the Company's property.

Potash One's Legacy project in Saskatchewan was previously explored by Imperial Oil Ltd. (now Exxon) and Lumsden Potash Corporation.

Potash One Inc. is a Canadian potash company engaged in the identification, acquisition, exploration and development of advanced resource properties. The Company has a solid balance sheet and experienced technical and corporate management to advance its current project to the next level. The primary interests of the Company include an option to acquire 100% interest in a 97,240 acre Potash Subsurface Exploration permit in Saskatchewan, Canada.