Prospect Global Resources Announces 30M Share Stock Offering

Prospect Global Resources (NASDAQ: PGRX) announced today that it will offer 30 million shares of common stock in a public offering.

The Company intends to grant the underwriters a 30-day option to purchase up to 4.5 million additional shares of common stock to cover over-allotments, if any.

The Company intends to use the net proceeds from this offering (i) to finance the final step in preparation for a final bankable feasibility study due in the first half of 2013, including an in-field drilling program, (ii) to fund a portion of debt payments due to The Karlsson Group Inc. in connection with the closing of the Company's acquisition of The Karlsson Group Inc.'s 50% interest in American West Potash LLC, and (iii) for mine planning, permitting, engineering activities, an environmental study, and general corporate purposes.

Dahlman Rose & Company, LLC, and Macquarie Capital (USA) Inc. are acting as joint book-running managers for the offering. Roth Capital Partners, LLC and Sterne, Agee & Leach, Inc. are acting as joint lead managers. 

The offering is being made by way of a shelf registration statement which has been declared effective by the Securities and Exchange Commission ("SEC").  A copy of the

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