December 16, 2016 / 6:46 PM / 7 months ago

BRIEF-Potash Ridge enters into convertible security funding agreement for Institutional Investment of up to US$11.8 mln

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Dec 16 (Reuters) - Potash Ridge Corp :

* It has entered into a convertible security funding agreement

* Agreement up to approximately U.S.$11.8 million in two tranches

* Potash Ridge Corp - Each convertible security has a two-year term from date of issuance and will incur a simple interest rate obligation of 10 percent

* Potash Ridge Corp - Proceeds will be used to continue advancement of Corporation's valleyfield project in Québec and Blawn Mountain project in Utah Source text for Eikon: Further company coverage:

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