TRADING SYMBOL: TSXV:EPO
VANCOUVER, Aug. 11, 2016 /CNW/ - Encanto Potash Corp.
("Encanto" or the "Company") (TSXV: EPO) is pleased
to announced the appointment to its Board of Directors of Messrs.
Norman Brewster, Noureddine
Mokaddem, Martin Wong,
David Franklin, Maurice Stekel, Chief Reg Bellerose and Joe Varner, effective
August 11, 2016. In addition
Mr. Brewster has been appointed as Chief Executive Officer of the
Company, Chief Bellerose has been appointed First Nations Special
Counsel . In conjunction with these appointments the Company
will be relocating its head office to Toronto, Ontario. The Company has
accepted the resignations of Messrs. Robert
McMorran, John Reynolds,
Jamie Schwitzer, Brian Thurston and Jim
Walchuck. Mr. Walchuck has agreed to continue as an
Advisor to the Company. The Company would like to take this
opportunity to thank Mr. Walchuck for his tireless efforts in
advancing the project to this stage and would like to thank the
resigning directors for their many years of contributions and wish
them success in their future ventures.
The company is looking forward to the further progress of work
on its Joint Venture with the Muskowekan First Nation on the Home
Reserve Project in southeastern Saskatchewan, beginning with implementation of
the previously recommended Feasibility Study. Since completion of a
Preliminary Feasibility Study filed in March of 2013 several
initiatives have been negotiated and put in place by the
company's President Mr. Stavros
Daskos.
"Following close to one year as Encanto's President, and having
secured the base terms that will lead to a long term agreement with
MMTC, that will allow for the resource to be developed, and the
company to expand, it was essential that a team be implemented that
has had a long track record with strong project and finance
execution to take this project forward with the First Nations".
About the New Board:
Norman Brewster:
Currently Mr. Brewster is the President, Director and C.E.O. of
Cadillac Ventures Inc., with development projects in
Ontario (copper) and New Brunswick (Tungsten). Mr.
Brewster has served on many public and private company boards over
his career in the mineral industry. Prior to joining Cadillac
Ventures Inc. Norman was the interim President and Executive
Chairman of Iberian Minerals Corp., successfully financing,
developing and putting into production the Aguas Tenidas Mine in
Andalucia, Spain, which
became the region's largest employer. During his tenure
Mr. Brewster led negotiations for the purchase of the Condestable
Mine in Peru by Iberian Minerals
Corp., and as a final duty Mr. Brewster led a committee in
reviewing the successful bid by Trafigura Group Pte. Ltd. (
revenue in 2015 of 97 Bn) to acquire Iberian Minerals Corp., in an
all cash takeover. Mr. Brewster also sat on a
committee, as a Director of Spider Resources Inc., which reviewed
the successful all cash acquisition of Spider Resources Inc., by
Cliffs Natural Resources Inc. Mr. Brewster holds Bachelor of
Science and Education Degrees from Acadia
University and was approved as a Member of the
Association of Geoscientists of Ontario.
Noureddine Mokaddem: Mr. Mokaddem is the President
and a Director of Maya Gold and
Silver, prior to which he has held senior positions in
Morocco mainly at ONA Group and OCP Group. Mr. Mokaddem has
played, during his 33 years of experience, an important role in the
development of several major mining operations and projects such as
the Akka gold mine and the Guemessa polymetallic complex in
Morocco and other projects in West
and Central Africa . Mr. Mokaddem
holds a Bachelor's Degree in Engineering from the State School of
Engineers in Mons, Belgium. Additionally Mr. Mokaddem has
attended several Training and Development courses related to the
mining industry and mineral projects during his career.
Martin Wong: Mr. Wong is
an independent director of Maya Gold
and Silver who for the last five years has acted as an independent
capital markets advisor to public companies. Prior to that Mr. Wong
worked for Dundee Securities Corporation's Investment Banking group
where he structured, developed and completed a range of capital
market transactions including capital market equity issues and
merger and acquisitions. Currently Mr. Wong is an advisor and
managing partner at Milton Capital Partners Limited, a financial
and capital market advisory firm. Mr. Wong holds a Bachelor of
Business Administration from Bishop's
University and is a member of the Ordre Comptables Agrees du
Quebec, Mr. Wong holds accreditation from UBC for Real Estate
Financing and the Boeing Corporation for Airline Analysis and
Financing.
David Franklin: Mr.
Franklin is presently the CEO of About You Medical Supplies of
Port Saint Lucie, Florida and
holds positions on several public and private companies
in the mining, technology and healthcare industries. Mr. Franklin
has many years experience in the financial industry including six
years at Sprott Asset Management. In 2011 Mr. Franklin was named
CEO of Sprott Private Wealth, an IIROC member firm with over
$3 billion in client assets, where he
oversaw Sprott's wealth management services to high net- worth
individuals and foundations. Mr. Franklin holds an Honors Degree in
Economics from Wilfrid Laurier
University and has a Chartered Investment Manager (CIM)
designation in Canada.
Maurice Stekel: Mr Stekel
has brought to numerous mining companies his significant expertise
in accounting and finance as a founding and senior partner of
Birnbaum, Prenick, Stekel & Co., Chartered Accountants. In
addition to practicing as a recognized and successful accountant,
over his career Mr. Stekel has held numerous directorships in
public mining companies. Most recently Maurice has brought
his audit expertise to sit as a Director and Audit Committee Chair
for several companies including Cadillac Ventures Inc., with
development stage assets, Iberian Minerals Corp. with its operating
Mine in Spain and the subject of a
cash takeover transaction by Trafigura Group Pte. Ltd., and Noront
Resources Ltd., during the period of the significant "Ring of Fire"
discovery in Northern Ontario.
Chief Reg Bellerose: Chief
Bellerose has been re-elected for his sixth term a Chief of the
Muskowekwan First Nation Encanto's partner in developing the potash
resource on his Nation's Reserve, where he is committed to economic
development, focusing on partnerships and joint ventures in the oil
and gas, potash, power and most recently rail industries.
Chief Bellerose sits on various Boards throughout Saskatchewan including First Nation Power
Authority, Saskatchewan Institute of Technologies and is Chair of
the Saskatchewan Indian Gaming Authority Board. Chief Bellerose
holds a Masters in Project Management from the University of Saskatchewan and a Bachelor of Arts
in History in Political Science from Concordia
University.
Joe Varner: Mr.
Varner has recently served as Director of Policy to Canada's Minister of Justice and Attorney
General, the Honourable Peter Gordon MacKay, P.C., Q.C., M.P., from
2013-2014. Mr. Varner served in the same capacity when
Minister MacKay was Minister of National Defence from 2008-2013.
During that time, he regularly accompanied the Minister to major
international security conferences such as the NATO summits in
Lisbon and Chicago and Halifax International Security
Conference, the Munich Security Conference, and Senator
John McCain's Sedona Forum as
principal advisor. Professor Varner previously served as Senior
Advisor on national security matters to the Rt. Hon. Joe Clark, Leader of the Progressive
Conservative Party of Canada; the
late Hon. John Lynch-Staunton, the
first leader of the Conservative Party of Canada; to the late Hon. J. Michael Forrestall, Deputy Chairman of the
Senate Standing Committee on National Security and Defence; and as
a Special Advisor to the former Speaker of the Senate, Hon.
Noel Kinsella. As an Associate
Professor, Joe Varner taught both
undergraduate and graduate courses in homeland security, national
security, emergency and disaster management and intelligence
studies at American Military University (AMU) and served as the
Program Director for the Department of Homeland Security Studies.
Joe Varner has a Bachelor of Arts
Honours Degree in International Relations and a Master of Arts
Degree in Political Science from Acadia
University and currently is a Doctoral candidate in
Strategic Security at Henley-Putnam University.
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange listed and traded
Canadian resource company engaged in the development of potash
properties in the Province of Saskatchewan, Canada, the largest producing
potash region in the world. Through a joint venture agreement with
Muskowekwan Resources Ltd. on our flagship property, Encanto has a
project land package which totals approximately 61,000 largely
contiguous acres. A Pre-Feasibility Study dated February 28 2013 titled "Encanto Potash Corp.
Technical Report Summarizing the Preliminary Feasibility Study for
the Muskowekwan First Nations Home Reserve Project in South Eastern
Saskatchewan, Canada" confirms the Proven & Probable KCI
Reserves totaling 162 MMt grading 28% which supports primary and
secondary mining for over 50 years at an assumed annual rate
extraction rate of 2.8 million tonnes.
The Company has a 5% interest in the 55,000 acre
Ochapowace/Chacachas property also located in Saskatchewan.
The technical content of this news release has been reviewed and
approved by James Walchuck, a
qualified person as defined by NI 43-101.
For additional information about Encanto Potash Corp., please
visit the Company's website at www.encantopotash.com or review the
Company's documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Norman
Brewster"
Per:
Norman Brewster
CEO and
Director
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
THE FOREGOING INFORMATION MAY CONTAIN FORWARD-LOOKING
INFORMATION RELATING TO THE FUTURE PERFORMANCE OF THE COMPANY.
FORWARD LOOKING INFORMATION IS SUBJECT TO A NUMBER OF KNOWN AND
UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE
ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED IN OUR
FORWARD LOOKING STATEMENTS. SUCH RISKS AND OTHER FACTORS INCLUDE,
AMONG OTHERS, THE ACTUAL RESULTS OF EXPLORATION ACTIVITIES, CHANGES
IN WORLD COMMODITY MARKETS OR EQUITY MARKETS, THE RISKS OF THE
MINING INDUSTRY INCLUDING, WITHOUT LIMITATION, THOSE ASSOCIATED
WITH THE ENVIRONMENT, DELAYS IN OBTAINING GOVERNMENTAL APPROVALS,
PERMITS OR FINANCING OR IN THE COMPLETION OF DEVELOPMENT OR
CONSTRUCTION ACTIVITIES, TITLE DISPUTES, CHANGE IN GOVERNMENT AND
CHANGES TO REGULATIONS AFFECTING THE MINING INDUSTRY, AND OTHER
RISKS AND UNCERTAINTIES DETAILED FROM TIME TO TIME IN THE COMPANY'S
FILINGS WITH THE CANADIAN SECURITIES ADMINISTRATORS (AVAILABLE AT
WWW.SEDAR.COM). FORWARD-LOOKING STATEMENTS ARE MADE BASED ON
VARIOUS ASSUMPTIONS AND ON MANAGEMENT'S BELIEFS, ESTIMATES AND
OPINIONS ON THE DATE THE STATEMENTS ARE MADE. SHOULD ONE OR MORE OF
THESE RISKS AND UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING
ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY
FROM THOSE DESCRIBED IN THE FORWARD-LOOKING INFORMATION CONTAINED
HEREIN. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE
FORWARD-LOOKING STATEMENTS IF THESE ASSUMPTIONS, BELIEFS, ESTIMATES
AND OPINIONS OR OTHER CIRCUMSTANCES SHOULD CHANGE, EXCEPT AS
REQUIRED BY APPLICABLE LAW.
SOURCE Encanto Potash Corp.