VANCOUVER, BC, April 11, 2023 /CNW/ - SAGE POTASH CORP. (TSXV: SAGE) ("Sage Potash" or the "Company") is pleased to announce the expansion of its district-scale potash project situated in Utah's prolific Paradox Basin, known to host extensive underdeveloped world-class potash resources (approximately 2 billion tons, according to the US Geological Survey).
Additionally to the previously disclosed land portfolio consisting of 83,000 acres of State and Private Mineral leases and BLM prospecting permit applications, the company has negotiated and agreed on terms for the acquisition of 5,118.78 acres of private leases.
The combined landholdings of the Sage Plain projects now totals 88,118.78 acres representing an increase of ~6% of the total land package.
J. Patricio Varas, Sage's COO & VP of Exploration commented, "Due to the nature of potash deposits and the rather flat lying topography of the deposits - as evidenced by our 2D seismic data and correlated between the Johnson 1 exploration well and the Western Natural Gas well, located 2.2 km away - an increase in private leases will equate to an increase in the resources outlined in our 43-101 technical report."
Sage's CEO Peter Hogendoorn stated, "The magnitude of our land portfolio in the potash-rich Paradox Basin is amplified by today's announcement. Securing a controlling interest in the private mineral rights adjacent to the Sage Plain Project and the Johnson 1 exploration well is a key step forward in the development of the project, giving not only the ability to increase our resource, but also plan for future surface infrastructure."
Additionally the Company has entered into advertising and investor awareness campaigns with Dig Media Inc. dba Investing News Network (INN), SmallCap Communications, and Digitonic Limited ("Digitonic"), VHLA Media Inc, and Triomphe Holdings Ltd. (doing business as Capital Analytica).
INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007 at www.investingnews.com. For the 12 month term of the agreement, INN will provide advertising to increase awareness of the issuer. INN does not provide Investor Relations or Market Making services. The cost of the campaign is CAD$72,000 and is payable in standard net 30 terms. INN currently holds no securities in Sage Potash Corp.
SmallCap Communications Inc. is engaged for a one-year period which includes a monthly fee of CAD$5,000 + GST per month and a CAD$25,000 + GST influencer and content marketing budget. SmallCap Communications Inc. (including its directors and officers) does not own any securities of the Company.
Digitonic is to provide content creation and digital and video marketing services over a period of approximately 1 months for a total cost of US$15,000, with the fees to be allocated to media spending and for management fees. As of the date hereof, to the Company's knowledge Digitonic (including its directors and officers) does not own any securities of the Company.
VHLA Media is to provide content creation and digital and video marketing services over a period of approximately 1 months for a total cost of CAD$12,000, with the fees to be allocated to media spending and for management fees. As of the date hereof, to the Company's knowledge VHLA (including its directors and officers) does not own any securities of the Company.
Capital Analytica has agreed to provide investor relations and communications services to the company in exchange for an aggregate amount of CAD$120,000. The services will include continuing social media consultation regarding engagement and enhancement, social sentiment reporting, social engagement reporting, discussion forum monitoring and reporting, corporate video dissemination, and investor relations services. The term of the Capital Analytica agreement is for a period of six months. As of the date hereof, to the Company's knowledge Capital Analytica (including its directors and officers) does not own any securities of the Company.
About Sage Potash Corp.
Sage Potash is a Canadian company vested solely in the Sage Plain Property and intends through sustainable solution mining techniques to become a prominent domestic potash producer within the Paradox Basin situated in Utah. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by email at [email protected].
On Behalf of the Board of Directors,
CEO & Executive Chairman
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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this news release includes, but is not limited to, statements with respect to future events or future performance of Sage, including completing a step out pilot production well that will double as a resource definition drill hole, advancing preliminary engineering and feasibility towards a PEA, completing 3D seismic and step-out well and new resource calculations [MA1] , and management's expectations regarding Sage's growth. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Sage to control or predict, that may cause Sage's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's final non-offering long form prospectus dated March 2, 2023 available for review on the Company's profile at www.sedar.com. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE Sage Potash Corp.