TORONTO, Nov. 20, 2017 /CNW/ - Potash Ridge Corporation
(the "Company") (TSX:PRK) announces that it has signed a
non-binding Letter of Intent ("LOI") with Canada Coal Inc.
("TSX-V:CCK") to potentially purchase, joint venture or otherwise
complete such other form of transaction that may be mutually
acceptable to the parties for the assets of Valleyfield Fertilizer
Corporation.
The LOI contains no proposed terms or compensation for any
potential transaction between the two parties. The LOI
provides for a 90-day period of exclusivity, which will allow both
parties to exchange information and maintain confidentiality as
each party seeks to determine whether mutually beneficial business
opportunities may exist. The Company will update the market if
and when the relationship with PRK advances to anything more
material, or if the LOI terminates (whether by mutual agreement or
upon the expiry of the 90-day term). Should any specific
transaction be agreed to among the parties, the issuer may be
subject to additional requirements pursuant to regulatory
policies.
On behalf of the Board of Directors
POTASH RIDGE CORPORATION
Andrew Squires
President & CEO
FORWARD LOOKING STATEMENTS: This news release contains
forward-looking statements, which relate to future events or future
performance and reflect management's current expectations and
assumptions. Such forward-looking statements reflect management's
current beliefs and are based on assumptions made by and
information currently available to the Company. Investors are
cautioned that these forward looking statements are neither
promises nor guarantees, and are subject to risks and uncertainties
that may cause future results to differ materially from those
expected. These forward-looking statements are made as of the date
hereof and, except as required under applicable securities
legislation, the Company does not assume any obligation to update
or revise them to reflect new events or circumstances. All of the
forward-looking statements made in this press release are qualified
by these cautionary statements and by those made in our filings
with SEDAR in Canada (available at
www.sedar.com).
SOURCE Potash Ridge Corporation