North American Potash Developments Inc. (OTCPK:RNGT.F) announced a non-brokered private placement of 12,000,000 subscription receipts at CAD 0.05 per receipt for gross proceeds of CAD 600,000 on August 13, 2018. Each subscription receipt will get converted into one unit of the company for no additional consideration. Each unit consists of one post consolidated common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.07 per share for a period of 12 months from the date of closing. The transaction will include participation from The Emprise Special Opportunities Fund (2017) Limited, a fund managed by Emprise Capital Corp., Investment Arm for 10,000,000 receipts. Post closing, the investor will own a controlling interest in the company. The transaction is subject to TSX Venture Exchange approval and shareholder approval.