VANCOUVER, BC, April 21, 2025 /CNW/ – Sage Potash Corp. (TSXV: SAGE) (OTC: SGPTF) (“Sage” or the “Company”) is pleased to announce the appointment of Tim Mizuno as President and Chief Operating Officer (COO). With extensive experience in the global agricultural and fertilizer industries, Mr. Mizuno will play a pivotal role in transitioning Sage Potash from project development to a production-oriented business.
“Mr. Mizuno’s leadership experience in the potash industry makes him an exceptional fit for the Company as we progress towards potash production in the United States. Sage Potash is committed to becoming a leader in sustainable production of this critical mineral, and we are excited to have Mr. Mizuno on board as we work towards this goal,” said Peter Hogendoorn, CEO of Sage Potash.
As President and COO, Mr. Mizuno will oversee the Company’s operational and commercial strategies working directly with suppliers, customers, investors and other stakeholders.
Mr. Mizuno comes to Sage Potash with industry-leading experience and a winning track record in several leadership roles at Nutrien, the world’s largest potash producer. Specifically, his experience leading strategic teams in the potash industry will amplify Sage Potash’s competitive advantages as an ‘in-market’ potash producer with scalable production enabled by low-emission solution mining.
Mr. Mizuno said, “Sage Potash has a unique opportunity to be an industry leader, using proven technologies to sustainably produce potash to support global food security, and I am excited to be a part of that.”
As President and COO, the Company has agreed that Mr. Mizuno’s compensation includes a signing bonus grant of two (2) million stock options, with each such option exercisable to purchase one common share of the Company at a price of C$0.25 for a period of five (5) years from the date of issue. The grant of options is made pursuant to the Company’s stock option plan and is subject to the vesting provisions contained therein and to the approval by the shareholders of the Company at its next AGM.
Sage Potash also announces that it has entered into a loan facility agreement (the “Loan Agreement”) with Inter World Investments (Canada) Ltd. (the “Lender”) dated April 17, 2025 for an unsecured loan facility of US$1,050,000 (the “Loan”).
The Loan will have a term of two (2) years, subject to acceleration upon the occurrence of certain events, and will bear interest at a rate of 7% per annum. The Lender is an arm’s length party to the Company. The purpose of the Loan is to support the Company’s general working capital and operational needs.
As bonus compensation for advancing the Loan on the terms and conditions provided in the Loan Agreement, including the unsecured nature of the Loan, subject to acceptance by the TSX Venture Exchange (“TSXV”), the Company will issue to the Lender 5,819,940 non-transferable warrants (“Bonus Warrants”), with each Bonus Warrant exercisable to purchase one common share of the Company at a price of C$0.25 for a period of two (2) years from the date of issue.
The Bonus Warrants will be issued pursuant to TSXV Policy 5.1 – Loans, Loan Bonuses, Finder’s Fees and Commissions and are subject to the approval of the TSXV. Any securities issued in connection with the Loan Agreement will be subject to a statutory four month hold period.
In connection with the Loan Agreement, Sage Potash will also pay a loan facility fee of US$50,000 (the “Loan Facility Fee”) to RCI Capital Group Inc. (“RCI”) in consideration and recognition of RCI introducing Sage Potash to the Lender and otherwise facilitating the Loan.
The Company further intends to carry out a convertible debenture financing (the “CD Financing”) with the assistance of RCI. Pursuant to the Loan Agreement, the Loan can be rolled into the CD Financing and, in such case, all amounts accrued or otherwise outstanding under the Loan, including the principal and interest accrued thereon, will be converted into the convertible debentures on the same terms as under, and concurrently with the closing of, such CD financing.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
About Sage Potash Corp.
Sage is a potash development company vested solely in the Sage Plain Property within the Paradox Basin situated in Utah and is dedicated to advancing the domestic supply of potash for American food security through sustainable solution mining techniques. For further information, please refer to the Company’s disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at info@sagepotash.com.
On Behalf of the Board of Directors
Peter Hogendoorn
CEO & Executive Chairman
(604) 764-2158
Website: sagepotash.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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that may be deemed “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements include, without limitation, statements relating to the use of proceeds from the Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to: the proceeds of the Offering being used other than as described herein; competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of commodities; failure of equipment or processes to operate as anticipated; accidents, and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness; as well as those factors, risks and uncertainties identified and reported in the Company’s public filings under its SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
