In Nov, Management said FULLY SUBSCRIBED, in January they announce "The funds raised in the Offering will replace some of the funds announced in the equity private placement announced by the Company on November 15, 2012. The Company anticipates closing the private equity offering, at a reduced amount, concurrently with the closing of the Offering."

How now is it a reduced amount (months after) is FULLY subscribed.?

Do any of you shareholders do any DD let alone read the company NR's at least?

 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2012) - Passport Potash Inc. ("Passport" or the "Company") (TSX VENTURE:PPI)(OTCQX:PPRTF) is pleased to announce that is has arranged a non-brokered fully subscribed private placement for 69,444,444 Units at a price of $0.18. Each Unit consists of one common share and one-half of one share purchase warrant. Each warrant will entitle the holder to purchase an additional common share at a price of $0.25 for a period of five years. Finders' fees may be paid in certain instances. The proceeds from the private placement will be used for property payments, general working capital and the exploration program of the Company. The foregoing is subject to regulatory approval.

"This financing is a significant step towards meeting our near and medium term funding needs, including the preliminary economic assessment and pre-feasibility studies," commented Joshua Bleak, Passport's president and CEO. "As we proceed forward we will explore all funding mechanisms to raise the capital necessary to complete this project."

 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2013) - Passport Potash, Inc. (TSX VENTURE:PPI)(OTCQX:PPRTF)("Passport" or the "Company") announces a non-brokered private placement of convertible debentures for up to $2.5 million at an interest rate of 15% (the "Offering"). The principal amount of the debentures is convertible into common stock of the Company at the option of the subscriber, in whole or in part, at a price of US$0.19 per share for a period of one year from the date of closing. The private placement is subject to the approval and consent of the TSX Venture Exchange (the "Exchange"). Upon approval by the Exchange the subscriber shall receive five warrants for each US$1.00 of principal amount tendered in the Offering, entitling the holder to acquire one share for each warrant at an exercise price of US$0.19 per share for a period of one year from the date of issuance.

Finders fees in accordance with TSX policy will be paid in connection with the financing. The funds raised in the Offering will replace some of the funds announced in the equity private placement announced by the Company on November 15, 2012. The Company anticipates closing the private equity offering, at a reduced amount, concurrently with the closing of the Offering. The proceeds from the Offering will be used for the Preliminary Economic Assessment which the Company anticipates publishing at the end of first quarter 2013, and for general working capital.