Potash One Inc. (TSX-V:KCL) has raised $11 million in a non-brokered private placement of 4.15 million units.
According to the Vancouver company, proceeds of the private placement will be used to develop its Legacy Potash Project in Saskatchewan.
The private placement comes about a month after the company hired Paul Matysek as president and CEO. Matysek was formerly president and CEO of Energy Metals Corp., which was acquired by Toronto-based Uranium One in August 2007.
Potash One's share price range during the past week: between $4.10 and $4.32; 52-week high: $4.55; 52-week low: $0.40.