Organic Potash Corporation Announces New Memorandum of Understanding
December 21 2018 - 2:02PM
Organic Potash Corporation (“OPC” or the “Corporation”) is pleased
to announce that further to its press release of November 24, 2015,
Karl Akueson, Founder of NCV, OPC’s joint venture partner in the
Ivory Coast has, acting in capacity as Trustee, for both NCV and
OPC, entered into a Memorandum of Understanding (“MOU”) with a
major international producer of low carbon energy (the “Partner”)
for the construction of a plant that would allow the economical
viable production of renewable energy, heat, potassium carbonate,
and natural fertilizers from cocoa pod husks. The Parties will
continue to work towards a Joint Venture Agreement in early 2019.
The Partner will be fully identified upon the
conclusion of a binding agreement.
It is the intention to develop a first prototype
unit for the production of 1 MW of electricity, approximately 1,000
tons per year of potassium carbonate and various natural fertilizer
compositions. The viability of this prototype would serve as a
basis for replication of the project, on other sites in Ivory
Coast, or elsewhere in Africa. In Ivory Coast, the Parties have the
objective to replicate this prototype model to achieve a combined
production of at least 10 MW of electricity and 10,000 tonnes per
year of potassium carbonate (the “Project”).
Africa supplies approximately 75% of global
cocoa. Ivory Coast alone produces 43%. This represents a unique
opportunity for major growth prospects for OPC and its
technology.
Mrs. Heather Welner, President,
CEO stated: This venture will lay the groundwork for
similar projects in Ivory Coast and throughout West Africa. OPC is
proud to be a partner with NCV and a major international company
and looks forward to a long and successful relationship.
About Organic Potash
CorporationThrough its licensed, proprietary, patented
technology, Organic Potash Corporation produces 99%+ pure potassium
carbonate (potash) from the ash of agricultural waste, in
particular, cocoa husks. The purity of the company’s potassium
carbonate will allow Organic Potash Corporation to target multiple
industries including the Agricultural and Pharmaceutical industry.
Organic Potash Corporation is headquartered in Toronto, Ontario and
its shares trade on the Canadian Securities Exchange under the
trading symbol “OPC”. For further information, please visit the
company website at www.organicpotash.com.
For further information please
contact:Mrs. Heather WelnerPresident and CEOOrganic Potash
CorporationTel: (905) 452-8060E-mail:
heather.welner@organicpotash.comWeb: www.organicpotash.com
Forward-Looking
StatementsInformation set forth in this news release may
involve forward-looking statements under applicable securities
laws. The forward-looking statements contained herein are expressly
qualified in their entirety by this cautionary statement. The
forward-looking statements included in this document are made as of
the date of this document and the Company disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable securities legislation.
Although Management believes that the expectations represented in
such forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. This
news release does not constitute an offer to sell or solicitation
of an offer to buy any of the securities described herein and
accordingly undue reliance should not be put on such. Neither
Canadian Securities Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the CSE) accepts
responsibility for the adequacy or accuracy of this release.
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