Buffalo Potash raises private placement target to C$13.5 million

Buffalo Potash Corporation (TSXV: BUFF) (OTCQB: BLPTF) has increased its non-brokered private placement for the second time, raising the target to C$13,500,000 in aggregate gross proceeds, according to a press release. The offering was initially set at a minimum of C$5,000,000 before being raised to C$7,500,000.

The company anticipates closing the offering in two tranches on or before June 30, 2026. Buffalo Potash also reserved the right to increase the size of the offering by up to 10%, allowing for up to 3,000,000 additional securities and C$1,350,000 in additional gross proceeds.

The offering includes Hard Dollar Units priced at C$0.45 per unit, each consisting of one common share and one-half of one common share purchase warrant. Flow-through shares are priced at C$0.52 per share, and Charity Flow-Through Units at C$0.558 per unit. Each whole warrant is exercisable at C$0.60 for 24 months from issuance.

Proceeds from the flow-through shares and Charity Flow-Through Units will be directed toward geological work and downhole infrastructure at the company's Disley Project in Saskatchewan. Net proceeds from the Hard Dollar Units will be used for general working capital and corporate purposes.

The offering remains subject to approval by the TSX Venture Exchange, and all securities will carry a statutory hold period of four months and one day. Certain company insiders may participate in the offering, which could constitute a related party transaction under Multilateral Instrument 61-101.

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