2 days Ago By ABMN Staff
Brazil Potash Corp. (GRO) expects to raise $70 million in an initial public offering on Friday, November 22nd, IPO Scoop reports. The company plans to issue 4,250,000 shares at a price of $15.
00-$18.00 per share. The company has a market cap of $669.
7 million. Brazil Potash Corp. provided the following description of their company for its IPO: “We are a pre-revenue mining company focused on potash, a major fertilizer.
(Incorporated in Ontario, Canada) We are a mineral exploration and development (E&D) company with a potash mining project, known as the Autazes Project, located in the state of Amazonas, a state in Brazil. We are a pre-revenue company that has not yet begun any mining operations. We are focused on getting the required permits and environmental licenses to start construction on the mining site.
We plan to extract and process potash ore from an underground mine and sell the potash fertilizer within Brazil. We intend to cut the country’s heavy reliance on imported potash. Our technical operations are based in Autazes, Amazonas, Brazil, and Belo Horizonte, Minas Gerais, Brazil.
Our corporate office is in Toronto, Ontario, Canada. Once our operations commence, our operating activities will be focused on the extraction and processing of potash ore from our underground mine and selling and distributing the processed potash in Brazil. Note: Net loss and zero revenue are for the year that ended Dec.
31, 2023. (Note: Brazil Potash Corp. disclosed the terms for its IPO in an F-1/A filing dated Oct.
23, 2024: The company is offering 4.25 million shares at a price range of $15.00 to $18.
00 to raise $70.13 million. Background: Brazil Potash Corp.
filed its F-1 for its IPO on Aug. 20, 2024, without disclosing terms for its IPO. Background: Brazil Potash Corp.
submitted a confidential IPO filing to the SEC in late 2022.) “. Brazil Potash Corp.
was founded in 2006 and has 15 employees. The company is located at 198 Davenport Road Toronto, Ontario, Canada M5R 1J2 and can be reached via phone at (416) 309-2963 or on the web at http://www.brazilpotash.
com/. Receive News & Ratings for Brazil Potash Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brazil Potash Corp.
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