Potash Ridge Corp.said April 11 that it has increased its C$1 million private placement to C$1.5 million.
The company first announced the C$1 million private placementon April 5, with NHP Asset Management AG committingto the full amount.
The private placement has been increased due to strong investordemand and has been fully allocated, Potash Ridge said.
The company will offer units, with each unit comprising 1 commonshare and 1 common share purchase warrant. The warrant will allow the holder toacquire 1 common share at 30 cents each within a three-year window.
Proceeds will be put toward advancing Potash Ridge's Valleyfieldfertilizer project in Quebec and BlawnMountain potash project in Utah, as well as toward general corporatepurposes.
Closing is anticipated on or around April 15, and finder's feesmay apply.