Potash One fka KCL

[Tackler]

Potash One 3.5-million-share private placement

2008-03-10 15:01 MT - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Feb. 21, 2008.

Shares: 3.5 million shares

Price: $4 per share

Warrants: 1.75 million share purchase warrants to purchase 1.75 million shares

Exercise price: $4.75 for a 15-month period. The warrants have an accelerated expiry provision such that if, after the expiry of the hold period, the closing price of the company's shares equals a minimum of $6 per share for a period of 10 consecutive days, the company may give notice that the warrants will expire 30 days after such notice.

Hidden placees: 13 hidden placees participated

Insiders: Front Street Investment Management Inc. 400,000; George Kok Chean Lim 25,000; Paul Matysek 100,000

Finders' fees: Canaccord Capital Corp. receives 30,000 units with the same terms as the above private placement. Peninsula Merchant Syndications Corp. (Sam Magid) receives 75,000 units with the same terms as the above private placement. Wellington West Capital Markets Inc. receives 60,000 units with the same terms as the above private placement.