Pacific Potash Shareholders Approve Sino-Canada Natural Resources Fund as Control Group
June 07 2013 - 4:14PM
Access Wire
Vancouver, British Columbia - June 7th , 2013 - Pacific Potash
Corporation (TSX-V: PP; OTCQX: PPOTF; FSE: P9P, "the Company") is
pleased to announce that on May 31st 2013 the Company's
shareholders gave 100% approval to Sino-Canada Natural Resources
Fund ("Sino-Canada Fund") to become a control group.
Pacific Potash has also closed its previously announced
20,000,000 units at $0.10 for gross proceeds of $2,000,000.
Sino-Canada Fund participated in the $0.10 per unit private
placement, subscribing for an additional 13,000,000 units.
Balbir Johal, Executive Co-Chairman and Director, stated: "This
cements the business relationship between Pacific Potash and
Sino-Canada Fund. We have been advised by CapitalAsia that future
introductions may be made to additional funding groups such as the
BRIC Development Bank. This Bank is capitalized with at least $50
billion in funding for developing projects in Brazil, Russia, India
and China."
Sino-Canada Fund, of the Cayman Islands has acquired ownership
and control over 25,500,000 common shares and 25,500,000 warrants,
representing approximately 28.6% of the current outstanding shares
of the Company, for a total investment of $2,300,000 in the
Company. Sino-Canada Fund has acquired the securities for
investment purposes and has no present intention to acquire further
securities of the Company, although it may in the future make
additional investments in the Company, or acquire or dispose of
securities as circumstances or market conditions warrant.
A copy of the early warning report filed with the applicable
securities regulators regarding the above acquisition is available
on the Company's SEDAR profile (www.sedar.com).
In compliance with Canadian Securities law, all securities
issued in connection with the closing of the private placement are
subject to a hold period that will expire on October 7, 2013.
About Sino-Canada Natural Resources Fund
Sino-Canada Natural Resources Fund is a Cayman Islands
registered private equity fund focused on investments in Canadian
listed and private companies that develop and operate natural
resources projects (mining, oil & gas, forestry) worldwide.
Sino-Canada Fund is managed in Hong Kong on behalf of private and
institutional investors from China.
About Pacific Potash Corporation
Pacific Potash Corporation trades on the TSX Venture Exchange
under the symbol: PP, as well on the OTCQX under the symbol: PPOTF
and on the Frankfurt Stock Exchange under P9P. Pacific Potash is
engaged in the exploration and development of the Amazonas Basin
Project and the surrounding potash claims targeting the Middle
Amazonas Potash Basin, currently the host to multiple new
exploration campaigns for potash. The Company also is exploring the
Provost Potash Property and the surrounding potash claims targeting
the prolific Prairie Evaporite Formation, which is host to multiple
conventional and solution potash mines.
On behalf of the Board,
Pacific Potash Corporation
Balbir Johal, LL.B
Executive Co-Chairman & Director
For further information, please visit our website at
www.pacificpotash.com or contact our V.P of Corporate
Communications, Mike Blady:
Mike Blady
Office: 604.895.7446
Email: mblady@pacificpotash.com
Neither the 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.
Caution concerning forward-looking information
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future
activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute
forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar
terminology, and reflect assumptions, estimates, opinions and
analysis made by management of Pacific Potash in light of its
experience, current conditions, expectations of future developments
and other factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and
unknown risks and uncertainties that may cause Pacific Potash's
actual results, performance and achievements to differ materially
from those expressed or implied by the forward-looking information
and statements and accordingly, undue reliance should not be placed
thereon.
Risks and uncertainties that may cause actual results to vary
include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with
applicable laws and regulations, including environmental laws and
obtaining requisite permits; political, economic and other risks;
as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities
regulatory authorities and available at www.sedar.com. Pacific
Potash disclaims any obligation to update or revise any
forward-looking information or statements except as may be
required.
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