Prospect Global Resources (PGRX) Plans 15 Million Share Offering; Applies To NASDAQ
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Prospect Global Resources (OTCBB: PGRX) announces plans to offer 15 million shares of its common stock in a public underwritten offering in the United States. The Company intends to grant the underwriters a 30-day option to purchase up to 2.25 million additional shares of common stock to cover over-allotments, if any.
In connection with the offering, the Company has applied to list its shares of common stock on the Nasdaq Capital Market under the symbol "PGRX".
The Company intends to use the net proceeds from this offering (i) to fund the initial payment due to The Karlsson Group in connection with the closing of the Company's acquisition of The Karlsson Group's 50% interest in American West Potash LLC, (ii) to fund the preparation of a bankable feasibility study, and (iii) for mine planning, permitting, an environmental study, engineering and for general corporate purposes.
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In connection with the offering, the Company has applied to list its shares of common stock on the Nasdaq Capital Market under the symbol "PGRX".
The Company intends to use the net proceeds from this offering (i) to fund the initial payment due to The Karlsson Group in connection with the closing of the Company's acquisition of The Karlsson Group's 50% interest in American West Potash LLC, (ii) to fund the preparation of a bankable feasibility study, and (iii) for mine planning, permitting, an environmental study, engineering and for general corporate purposes.
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