Vancouver-Potash One Inc. on Feb. 20 announced a non-brokered equity private placement of up to 3.5 million units at a price of $4.00 per unit for gross proceeds of $14 million. Each unit shall consist of one common share and one-half common share purchase warrant. Each whole warrant shall be exercisable for one common share at a price of $4.75 per share for a period of 15 months following closing. In the event that the common shares close at $6.00 or greater for 10 trading days, subsequent to the expiry of the four-month hold period, the expiry date may be accelerated by the company to a period of 30 days.
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