IC Potash Announces Closing of Over-subscribed Private Placement Financing

IC Potash (TSX:ICP) has announced the closing of a previously announced non-brokered private placement for aggregate proceeds of  $1.356 million.
As quoted in the press release:

Each Unit consists of (i) one common share of the Company (a “Common Share”); and (ii) one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.11 until December 12, 2017, subject to early acceleration as described in the Company’s press release dated December 2, 2016.
An aggregate of 16,950,000 Units were issued at $0.08 per Unit. The Company paid finder’s fees to certain qualified eligible persons assisting the Company in the Private Placement in the aggregate amount of $85,860 (equal to 7% of the gross proceeds raised by such finders). The Company also issued an aggregate of 1,071,000 broker warrants (“Broker Warrants”) to qualified eligible persons as is equal to 7% of the aggregate number of Units sold by such finders, each such Broker Warrant entitling the holder to acquire one Common Share for a period of 12 months at an exercise price equal to $0.11.
“The significant support from long-term shareholders for the development of the Ochoa project has been instrumental”, stated Mehdi Azodi, President & CEO of IC Potash.

Click here to read the full press release.