Potash Ridge banks first tranche of convertible security funding

Near-term fertiliser producer Potash Ridge has closed the first tranche of a convertible security financing announced last month, bolstering the balance sheet by about $2.64-million. The Toronto-based company said it will use the funds of the up to $11.8-million financing to advance its Valleyfield project, in Quebec, and Blawn Mountain project, in Utah, and provides working capital for general corporate purposes for more than 12-months.