Sage Potash Continues to Strengthen Team by Adding Corporate Finance Veteran as CFO and Retains Terrarock Industries for Plant Construction

Rhea-AI Summary

Sage Potash Corp. (TSXV: SAGE, OTC: SGPTF) has appointed Rod Reum as Chief Financial Officer, bringing 40 years of international finance leadership experience to the company as it progresses into the construction phase of its Sage Plain Project in Utah. The company has also retained Terrarock Industries, led by strategic operations partner Shilo Sazwan, to manage the construction and commissioning of its Muriate of Potash pilot plant.

Mr. Reum's extensive experience includes leading high-growth start-ups and large international partnerships across various industries. He replaces Mr. Grossholtz, who has served as CFO since November 2021. Sage Potash has also granted 4,350,000 stock options to certain directors, officers, employees, and consultants with an exercise price of $0.25 per share and an expiry date of October 17, 2026.

Positive

• Appointment of experienced CFO Rod Reum with 40 years of international finance leadership
• Retention of Terrarock Industries for plant construction, led by strategic operations partner Shilo Sazwan
• Recent purchase of fertilizer plant equipment in partnership with International Process Plants
• Progress towards construction and operations of the Sage Plain Project in Utah

Negative

• None.

The appointment of Rod Reum will bring a long, tenured and strong track record of executive leadership and corporate finance to Sage Potash as it progresses into construction.

VANCOUVER, BC, Oct. 17, 2024 /PRNewswire/ - Sage Potash Corp., (TSXV: SAGE) (OTC: SGPTF) ("Sage" or the "Company") is pleased to announce that Rod Reum has been appointed Chief Financial Officer effective immediately. Mr. Reum brings forty years of international finance leadership experience and public company governance as Sage Potash progresses into its construction phase of developing its Sage Plain Project in Utah. As CFO, Mr. Reum has added to the recent transformation of the management team of operational industry experts, such as Shilo Sazwan, who joined Sage Potash as a strategic operations partner. Mr. Sazwan is responsible for sourcing and securing the fertilizer plant equipment purchase agreement in partnership with International Process Plants, announced on September 8^th, 2024.   

With the Company advancing towards construction and operations, Mr. Sazwan has brought on his Terrarock Industries team of in-house engineering, construction, logistics, and accounting experts to lead the project management of the construction and commissioning of its Muriate of Potash pilot plant in Utah. Mr. Sazwan and his construction and engineering team have over twenty-five years of experience designing and operating high-quality, innovative, sustainable evaporative mineral plants.  The Company's Utah Sage Plain plant will be Mr. Sazwan's ninth such facility to be built at significant cost savings.

Mr. Reum joins Sage Potash with extensive experience and a strong executive corporate finance track record, including leading high-growth start-ups and large international partnerships from development to production stages across construction, mining, alternative energy, forestry and military industries. Highly skilled in risk management, securing global strategic alliances and leading finance teams through complex international joint ventures, including a large Canadian Kraft Pulp Mill.  

Mr. Reum most recently served as CFO for Mavericks Micro Grids Inc., providing leadership and expertise in US IRA Investment Tax credit financing and carbon credit modelling. "Sage Potash's opportunity value is unparalleled and key to local production in support of America's fertilizer industry, which is nearly 100% dependent on potash imports. With Sage's recent announcements of adding new senior operational partners and purchasing plant equipment, the team is clearly committed to advancing this project in a highly cost-effective, risk-mitigated strategy," said Mr. Reum.

Sage's CEO, Peter Hogendoorn, says, "Mr. Reum's appointment and expertise in overseeing both US and Canadian public companies will provide the appropriate financial oversight and strategic guidance to Sage as our construction begins and operations expand. With our recent plant acquisition announcement and financing activities, we are clearly focused on delivering results and value to our shareholders at each stage of our project development."

Mr. Reum replaces Mr. Grossholtz, who has served as CFO since November 2021. The Company wishes to thank Mr. Grossholtz for fulfilling that role and express appreciation for his service.

The Company aims to share in the achievements with its directors, employees, and consultants and encourage all parties to align interests with shareholders in boosting Sage Potash's long-term value and profitability. As such, the company wishes to announce that it has granted an aggregate of 4,350,000 stock options to certain directors, officers, employees, and consultants pursuant to the Company's stock option plan. The stock options have an exercise price of $0.25 per share and an expiry date of October 17, 2026.

About Sage Potash Corp.
Sage Potash is a Canadian company vested solely in the Sage Plain Property and intends to become a prominent domestic potash producer within the Paradox Basin situated in Utah through sustainable solution mining techniques. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at info@sagepotash.com.

On Behalf of the Board of Directors,
Peter Hogendoorn
CEO & Executive Chairman
(604) 764-2158
Website: www.sagepotash.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward–looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

 

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SOURCE Sage Potash Corp.

FAQ

Who is the new CFO of Sage Potash Corp. (SGPTF)?

Rod Reum has been appointed as the new Chief Financial Officer of Sage Potash Corp. (SGPTF), effective immediately.

What is the Sage Plain Project of Sage Potash Corp. (SGPTF)?

The Sage Plain Project is Sage Potash Corp.'s (SGPTF) development project in Utah, which includes the construction of a Muriate of Potash pilot plant.

What company has Sage Potash Corp. (SGPTF) retained for plant construction?

Sage Potash Corp. (SGPTF) has retained Terrarock Industries, led by strategic operations partner Shilo Sazwan, for the construction and commissioning of its Muriate of Potash pilot plant in Utah.

How many stock options did Sage Potash Corp. (SGPTF) grant on October 17, 2024?

Sage Potash Corp. (SGPTF) granted an aggregate of 4,350,000 stock options to certain directors, officers, employees, and consultants on October 17, 2024.