Sennen Potash Corporation announced a non-brokered private placement for gross proceeds of up to CAD 4,250,000 on November 28, 2022. The company will issue non-flow through units at a price of CAD 0.10 per unit and flow-through unit at a price of CAD 0.15 per unit. Each unit consists of one Flow Through common share and one half common share warrant and will allow the holder to purchase one common share for a period of two years from issuance at an exercise price of CAD 0.25 per common share.

There is an acceleration clause that if the common shares of company's trade at or above CAD 0.50 per share for a period of 10 trading days during the last year of the warrant period, then the warrant must be exercised within 15 business days. Each non flow though unit consists of one common share and one common share warrant that will allow the holder to purchase one common share for a period of two years from issuance at an exercise price of CAD 0.25 per common share. There is an acceleration clause that if the common shares of company's trade at or above CAD 0.50 per share for a period of 10 trading days during the last year of the warrant period, then the warrant must be exercised within 15 business days.

The transaction is subject to TSX Venture Exchange approval and once issued, subject to a regulatory fourth month hold period. the company may pay an 8% cash finder's fee, 4% finder's warrants and 4% findersÆ shares. The finder's warrants for the units will be exercisable into common shares for a period of one year at an exercise price of CAD 0.10 per common share.

In addition, the Company is pleased to announce the appointment of Andy Wu as Chief Financial Officer, replacing Kelly Abbott who was the interim Chief Financial Officer.