Athabasca Potash Inc.

Athabasca Potash Inc.

December 13, 2007 09:00 ET

Athabasca Potash Inc. Completes IPO and Commences Trading

SASKATOON, SASKATCHEWAN--(Marketwire - Dec. 13, 2007) -


Athabasca Potash Inc. ("Athabasca") (TSX:API) is pleased to announce the completion of its initial public offering (the "Offering") of 10,140,000 common shares at a price of CDN$4.25 per share, for gross proceeds of CDN$43 million. Athabasca's common shares begin trading today on the TSX under the symbol "API".

The Offering was sold through an underwriting syndicate that was co-led by Genuity Capital Markets and National Bank Financial Inc., and included TD Securities Inc., Wellington West Capital Markets Inc. and Research Capital Corporation. Athabasca has granted the underwriting syndicate an over-allotment option to purchase up to 1,521,000 common shares at the price of CDN$4.25 per share. The option is exercisable, in whole or in part, within the next 30 days to cover over-allotments if any, and for market stabilization purposes. If the option is exercised in full, gross proceeds of the Offering will be CDN$49.6 million.

Athabasca intends to use the net proceeds of the Offering to complete an exploration program, a scoping study and a pre-feasibility study on its Burr project property, located in Saskatchewan, Canada, to acquire additional free-hold mineral and surface land property, to fund permit maintenance payments, and to fund exploration programs on the Company's additional properties. The remaining proceeds will be used for general corporate purposes.

Athabasca was founded with a goal of establishing itself as a pre-eminent Canadian public company engaged solely in potash exploration and development, and to provide its shareholders with a unique investment opportunity focused entirely on potash.

For further information, please review Athabasca's Final Prospectus filed on

This news release is not intended for and should not be disseminated to or read by any resident of the United States or any U.S. person. The offered securities have not been and will not be registered under The United States Securities Act of 1993, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transaction exempt from the registration requirements of the U.S. Securities Act and all applicable state securities laws.

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