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IC Potash Corp. (TSX:ICP,OTCQX:ICPTF) announced that Yara International (OTC Pink:YARIY) is making a strategic investment in the company.
IC Potash Corp. (TSX:ICP,OTCQX:ICPTF) announced that Yara International (OTC Pink:YARIY) is making a strategic investment in the company.
As quoted in the press release:
In connection with the strategic investment, ICP will issue to Yara 30,129,870 common shares at a price of $1.32 per common share for total gross proceeds of C$39,771,428. After giving effect to the transaction, this will result in Yara owning 19.9% of the issued and outstanding common shares of ICP on a non-diluted basis.