TSXV: EPO
VANCOUVER, Feb. 1, 2017 /CNW/ - Encanto Potash Corp.
("Encanto" or the "Company") (TSXV: EPO)
announces that 12,000,000 common shares of the Company that were
held in escrow pursuant to an escrow agreement dated May 30, 2016 have been released as Encanto has
entered into a definitive off-take agreement for the long term
supply of potash. (See Company news release dated June 3, 2016 for further details regarding the
escrow shares.)
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 and Probable KCI Reserves
totaling 162 MMt grading 28% (average) which supports primary and
secondary mining for over 50 years at an assumed annual rate
extraction rate of 2.8 million tonnes.
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.
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 SATISFACTION OF ANY APPLICABLE CONDITIONS IN
RESPECT OF THE MMTC MOU AND THE OFFTAKE AGREEMENT INCLUDING THOSE
IN RELATION TO PROJECT TIMELINES, THE ASSUMPTIONS AND ESTIMATES IN
THE COMPANY'S PRE-FEASIBILITY STUDY OF THE MUSKOWEKWAN PROJECT (THE
"PFS") PROVING TO BE ACCURATE OVER TIME INCLUDING APPLICABLE
RESOURCE ESTIMATES, THE POTENTIAL FOR DELAYS AND INCREASES TO
PROJECT COSTS AS A RESULT OF POTENTIAL CHANGES IN PLANNED
PRODUCTION RATES, CHANGES IN WORLD COMMODITY MARKETS OR EQUITY
MARKETS, THE ADEQUACY OF THE COMPANY'S FINANCIAL RESOURCES AND THE
AVAILABILITY OF ADDITIONAL FINANCING ON REASONABLE TERMS OR AT ALL,
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. READERS ARE
CAUTIONED THAT CURRENT MARKET PRICES FOR THE COMPANY'S PROPOSED
PRODUCTS ARE MATERIALLY DIFFERENT THAN THE ESTIMATES USED IN THE
PFS AND CHANGES TO THE PROPOSED PRODUCTION RATE WOULD BE EXPECTED
TO CAUSE MATERIAL CHANGES TO THE REQUIRED CAPITAL COSTS OF THE
PROJECT. 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.