Business Wire

Encanto Potash Corp Secures CAD $100 Million Capital Commitment from GEM Global

Del

Encanto Potash Corp. ("Encanto" or the "Company") the TSX-V listed Potash development; Mining and Operating company (TSX-V: EPO) is pleased to announce that it has secured a commitment for a CAD $100 million funding facility. Under the funding agreement signed 15th September, 2017 (the "Agreement"), GEM Investments America, LLC and GEM Global Yield LLC SCS undertake to invest up to CAD $100,000,000 over the next three years.

The proceeds will be used to commence the engineering and design phase of the mine in anticipation of a shovel-ready construction date of September 2019. Under a joint venture agreement with Muskowekwan Resources Ltd and Chief Reginald Bellerose of the First Nation’s Muskowekwan tribe, Encanto has secured the mineral rights for the mine and completed preliminary studies. In the interim, proceeds will also be used for the procurement and supply of 3rd party potash under the terms of a 20-year, 5 million metric tons a year potash off-take agreement executed on December 30th, 2016, with the National Federation of Farmers’ Procurement, Processing, and Retailing Cooperatives of India Ltd., ("NACOF") registered under the Ministry of Agriculture, Government of India.

Stavros Daskos, Chief Executive Officer of Encanto Potash, said, “This commitment secures funding for Encanto’s mining and supply plan over the next three years. We will continue working closely with our land partners at Muskowekwan Resources Ltd to ensure First Nation’s involvement in the project. GEM’s commitment validates our strategy to seek long-term strategic partners.”

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 more information, Encanto contact: Jeffrey Brown, Jeffrey@encantopotash.com, 518-522-4732.

About Global Emerging Markets

Global Emerging Markets ("GEM") is a USD $3.4 billion alternative investment group that manages a diverse set of investment vehicles and has offices in Paris, New York and Los Angeles. Since 1991, GEM has completed over 370 transactions across 70 countries. GEM's investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum. For more information, GEM contact: Jonathan Collins, JCollins@Gemny.com, 212-582-3400

THIS DOCUMENT MAY CONTAIN "FORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF CANADIAN SECURITIES LEGISLATION AND "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THIS INFORMATION AND THESE STATEMENTS, REFERRED TO HEREIN AS "FORWARD-LOOKING STATEMENTS" ARE MADE AS OF THE DATE OF THIS DOCUMENT. GENERALLY, THESE FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY SUCH AS "EXPECTS", "ANTICIPATES", "PLANS", "PROJECTS", "ESTIMATES", OR VARIATIONS THEREOF OR STATING THAT CERTAIN ACTIONS, EVENTS OR RESULTS "MAY", "COULD", "WOULD", OR "MIGHT" BE TAKEN, OCCUR OR BE ACHIEVED. FORWARD-LOOKING STATEMENTS, WHILE BASED ON MANAGEMENT'S BEST ESTIMATES AND ASSUMPTIONS, ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT MAY CAUSE ACTUAL RESULTS TO BE MATERIALLY DIFFERENT FROM THOSE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS, INCLUDING BUT NOT LIMITED TO: RISKS RELATING TO VARIATIONS IN THE MINERAL CONTENT WITHIN THE MATERIAL IDENTIFIED AS MINERAL RESOURCES FROM THAT PREDICTED; VARIATIONS IN RATES OF RECOVERY AND EXTRACTION; THE GEOTECHNICAL CHARACTERISTICS OF THE ROCK MINED OR THROUGH WHICH INFRASTRUCTURE IS BUILT DIFFERING FROM THAT PREDICTED, DEVELOPMENTS IN WORLD METALS MARKETS; RISKS RELATING TO FLUCTUATIONS IN THE CANADIAN DOLLAR RELATIVE TO THE US DOLLAR; INCREASES IN THE ESTIMATED CAPITAL AND OPERATING COSTS OR UNANTICIPATED COSTS; DIFFICULTIES ATTRACTING THE NECESSARY WORK FORCE; INCREASES IN FINANCING COSTS OR ADVERSE CHANGES TO THE TERMS OF AVAILABLE FINANCING, IF ANY; TAX RATES OR ROYALTIES BEING GREATER THAN ASSUMED; CHANGES IN DEVELOPMENT OR MINING PLANS DUE TO CHANGES IN LOGISTICAL, TECHNICAL OR OTHER FACTORS; CHANGES IN PROJECT PARAMETERS AS PLANS CONTINUE TO BE REFINED; RISKS RELATING TO RECEIPT OF REGULATORY APPROVALS; DELAYS IN STAKEHOLDER NEGOTIATIONS; CHANGES IN REGULATIONS APPLYING TO THE DEVELOPMENT, OPERATION, AND CLOSURE OF MINING OPERATIONS FROM WHAT CURRENTLY EXISTS; THE EFFECTS OF COMPETITION IN THE MARKETS IN WHICH ENCANTO OPERATES; AND OPERATIONAL AND INFRASTRUCTURE RISKS. ALTHOUGH MANAGEMENT HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN FORWARD-LOOKING STATEMENTS, THERE MAY BE OTHER FACTORS THAT CAUSE RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED OR INTENDED. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS. ENCANTO DISCLAIMS ANY OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN OR TO PUBLICLY ANNOUNCE THE RESULT OF ANY REVISIONS TO ANY SUCH STATEMENTS TO REFLECT FUTURE RESULTS, EXCEPT AS REQUIRED BY APPLICABLE SECURITIES LAW. PLEASE REFER TO ENCANTO'S MOST RECENT FILINGS UNDER ITS PROFILE AT WWW.SEDAR.COM FOR FURTHER INFORMATION RESPECTING THE RISKS AFFECTING ENCANTO AND ITS BUSINESS.

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.

Contact information

Encanto
Jeffrey Brown, 518-522-4732
Jeffrey@encantopotash.com
or
Global Emerging Markets
Jonathan Collins, 212-582-3400
JCollins@Gemny.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Kalray Releases the Kalray Neural Network 3.0 (KaNN) to Accelerate Artificial Intelligence Application Development13.11.2018 18:26Pressemelding

Kalray (Euronext Growth Paris – ALKAL), a pioneer in processors for new intelligent systems, today announced the launch of the Kalray Neural Network 3.0 (KaNN), a platform for Artificial Intelligence application development. KaNN allows developers to seamlessly port their AI-based algorithms from well-known machine learning frameworks including Caffe®, Torch® and TensorFlow® onto Kalray’s Massively Parallel Processor Array (MPPA®) intelligent processor. Artificial Intelligence is at the heart of a growing number of applications such as autonomous vehicles, intelligent storage servers, data centers, robotics, drones, and more. Kalray’s manycore MPPA® intelligent processor has been architected from the ground up to meet the incredible performance requirements of such advanced applications. However, it is crucial to provide an easy way for AI developers to seamlessly support the AI networks they develop. “The Kalray MPPA® intelligent processor is capable of processing massive amounts of d

Sharjah International Book Fair 2018 Celebrates Reading and Culture with 2.23 Million Visitors13.11.2018 18:17Pressemelding

The world’s third largest celebration of the written word, the Sharjah International Book Fair (SIBF), has put up yet another record performance in its 37th annual edition. Themed ‘A Tale of Letters’, the event was a dream come true occasion for book lovers, who had access to 20 million books, all under one roof. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181113006044/en/ Sharjah International Book Fair 2018 - Provided by Sharjah Book Authority (Photo: Business Wire) Organised by the Sharjah Book Authority (SBA) in the emirate of Sharjah, cultural capital of the United Arab Emirates (UAE), SIBF 2018 witnessed a footfall of 2.23 million visitors in 11 days, including 230,000 school students who poured in from around the country. The Sharjah International Book Fair hosted 1,874 publishers from 77 countries who brought in 1.6 million titles, 80,000 of which were seen at the fair for the first time. It also offered its stage

Communications and Business Transformation Strategist Brian Ellner Joins BCW to Lead U.S. Corporate Practice13.11.2018 18:00Pressemelding

BCW (Burson Cohn & Wolfe), a leading global communications agency, announced today that Brian Ellner has joined as Executive Vice President, Global Corporate Solutions, responsible for leading and growing BCW’s U.S. Corporate Practice. Ellner takes on the role previously held by Aranthan “AJ” Jones II, who will now lead the firm’s Public Affairs and Crisis Practice in the U.S. “Corporations are navigating an increasingly complex world where their reputations are tied not only to their own performance but also to their behavior on topics like climate, gender pay equity, visa status, diversity and inclusion and the environment,” said Chris Foster, President, North America, BCW. “Brian has deep experience helping clients build and protect their reputations, manage business transformation and create authentic social purpose engagements. He is a seasoned strategic counselor and power player in the New York business world and will bring our clients and our business clear opportunities for gr

Alliance Ventures Invests in Enevate to Advance Li-ion Battery Technology for Electric Vehicles13.11.2018 16:00Pressemelding

Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, has announced today that it has invested in the latest round of funding in Enevate Corporation, an advanced lithium-ion (Li-ion) battery technology company based in Irvine, California. This marks the latest technology investment by Alliance Ventures, launched earlier this year to support start-ups, early-stage development, and entrepreneurs at the cutting edge of next-generation systems for the automotive industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181113005136/en/ Francois Dossa, Alliance Global Vice President, Ventures and Open Innovation, said: “We are pleased to participate in Enevate’s latest funding round. This strategic investment allows us to support the development of Enevate’s proprietary, cutting-edge electrode technology. Continued development in this critical field will help us accelerate the electrification of our ve

P&G Tackles Clean Water, Gender Equality and Plastic Waste in 2018 CSR Report13.11.2018 14:05Pressemelding

The Procter & Gamble Company (NYSE:PG) extends its long history of doing good in the world by bringing the comforts of home to those impacted by disasters, continuing to spark conversations about diversity, inclusion and gender equality with its advertising and making meaningful impact on the environment with new 2030 goals including a vision to ensure that none of the Company’s packaging ends up in the world’s oceans. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181113005694/en/ P&G issued its 2018 Citizenship Report, which highlights the Company's progress in its Citizenship priority areas of Community Impact, Diversity & Inclusion, Gender Equality and Environmental Sustainability, all of which are based in a foundation of Ethics and Corporate Responsibility. (Graphic: Business Wire) Captured in the 2018 Citizenship Report released today, P&G highlights the recent activities that define the Company as a force for good an

ISACA Refreshes COBIT Framework to Address Latest Business Technology Trends and Standards13.11.2018 14:03Pressemelding

ISACA, the global association for information and technology (I&T) audit, risk, governance and security professionals, has released its first update to the COBIT framework in nearly seven years. The new version, COBIT® 2019, provides comprehensive and more practical guidance to help enterprises better govern and manage their information and technology. The COBIT framework is used by enterprises in all industries around the globe, and COBIT publications have been downloaded more than one million times. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181113005757/en/ ISACA introduced COBIT in 1996 to provide and organize a set of controls for IT. The new iteration of COBIT will come in four phases and will include focus areas reflecting trends and priorities in technology (e.g., DevOps, cybersecurity), updates aligned with the latest industry standards, and a design guide that provides flexibility and guidance to help organizat