DENVER, Jan. 8, 2013 /PRNewswire/ -- Prospect Global Resources, Inc. (NASDAQ: PGRX) today announced that it will host an analyst and investor day on Tuesday, February 5, 2013, in New York City. The meeting, to be held at 12:30 p.m. at the St. Regis Hotel, 2 East 55 th Street, will be open to the public, including research analysts, institutional and retail investors, and members of the media. Speaking on behalf of Prospect Global will be Chief Executive Officer and President Patrick L. Avery, Chief Operating Officer and Executive Vice President Brian Wallace and Chief Financial Officer and Executive Vice President Damon G. Barber. About Prospect Global Resources Inc. [PGRX]:Prospect Global Resources Inc. is a Denver-based company engaged in the exploration and development of a large, high-quality potash deposit located in the Holbrook Basin of eastern Arizona. SOURCE Prospect Global Resources, Inc.
Prospect Global Resources (PGRX) dropped to a one-year low of $1.05 at the close of trading on Friday after the company said it received notice from NASDAQ that it would be suspended from trading on Monday because it had failed to comply with a NASDAQ listing rule that mandates a minimum market value of listed common stock of $35 million. The stock will move to the OTCQB market starting Monday under the same symbol. Prospect Global, which is developing a potash mine in Arizona, announced Friday it had signed an agreement to reduce the cash amount necessary to extinguish its senior secured debt to $15 million from $25 million. The company has filed a registration statement with the Securities and Exchange Commission for a public offering to help fund the payment. Prospect Global has until April 23 to raise the capital to extinguish the debt. Prospect Global has approximately $153.1 million in obligations outstanding to its senior secured lender with a maturity in July 2015, but the $15 million payment will extinguish this amount.