TSXV: EPO
VANCOUVER, Sept. 22, 2017 /CNW/ - Encanto Potash Corp.
("Encanto" or the "Company") announces that it intends to extend
the expiry date of a total of 5,585,000 outstanding share purchase
warrants, all of which are exercisable at $0.30 per share (collectively, the "Warrants").
The Warrants were issued pursuant to a private placement completed
in two tranches on October 9, 2014
and October 23, 2014 and were set to
expire on October 9, 2017 and
October 23, 2017. The new expiration
date of the Warrants is October 9,
2019 (as to 5,535,000 warrants) and October 23, 2019 (as to 50,000 warrants). The
exercise price and all other terms of the Warrants will remain
unchanged. The extension of the Warrants is subject to the approval
of the TSX Venture Exchange.
About Encanto Potash Corp.
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, Encanto has secured a project land
package which totals approximately 61,000 largely contiguous acres.
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
Mt grading 28% KCl (average) which supports primary and secondary
mining for over 50 years at an assumed annual rate extraction rate
of 2.8 Mt of MOP. The PEA dated May 24,
2017 titled " NI 43-101 Technical Report on a Preliminary
Economic Assessment and Preliminary Feasibility Study of the
Muskowekwan Potash Project, South-Eastern Saskatchewan, Canada"
summarizes an alternative development option that supports primary
and secondary mining of the Mineral Resources for 48 years at an
annual extraction rate of 3.4 Mt of MOP. On December 30, 2016, Encanto signed a 20-year
off-take agreement with the National Federation of Farmers'
Procurement, Processing, and Retailing Cooperatives of India Ltd.,
(NACOF) registered under the Ministry of Agriculture, Government of
India to supply 5 million metric
tons a year of potash.
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.
For further information please contact:
Jeffrey Brown
Tel: 518-522-4732
Email: Jeffrey@encantopotash.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.
SOURCE Encanto Potash Corp.