Oct 1 Cash-strapped mining company Western
Potash Corp said it will raise $15 million in a
non-brokered private placement.
The company, which said last month it was looking for fresh
capital to help build a potash mine in Western Canada, is in
talks with India's Rashtriya Chemicals and Fertilizers Ltd
for a joint venture.
The Vancouver-based company plans to sell 31.2 million
shares at 48 cents per share to raise the amount, it said in a
Western Potash is hoping to strike a deal with an investor
to buy a stake or take over the company by the end of 2012.
Shares of the company closed at 46.5 Canadian cents on
Monday on the Toronto Stock Exchange.