American Potash Announces Proposed Private Placement

American Potash Corp. (CSE:KCL) has announced a non-brokered private placement aiming to raise up to $650,000. The offer consists of up to 13,000,000 units at a price of $0.05 per unit. Each unit includes one common share and one common share purchase warrant, allowing the holder to acquire an additional share at $0.10 within two years of the closing date.

The company may pay finder's fees up to 7% in cash and issue finder's warrants equal to 7% of the number of units facilitated by the finder. These warrants will have the same terms as those in the initial units.

The proceeds from the private placement will be used for permitting on the company's properties and for working capital. Completion of this private placement is subject to approval by the Canadian Securities Exchange.