TSXV: EPO
VANCOUVER, Jan. 30, 2018 /CNW/ - Encanto Potash Corp.
("Encanto") the TSX-V listed Potash development; Mining and
Operating company (TSX-V: EPO) is pleased to announce Encanto has
filed the requested project information in advance of its
application for supplemental funding across various government
departments led by Indigenous and Northern Affairs Canada ("INAC"),
a federal government department responsible for meeting the
Government of Canada's obligations
and commitments to First Nations. The filed project
information included focuses on upcoming steps of the feasibility
study, as well as the projected economic impact for Muskowekwan
First Nations, the province of Saskatchewan, and the federal government of
Canada. The filed information included a detailed cost
forecast and schedules of engineering works planned for 2018. Over
the next coming weeks, Encanto and INAC will work together to
present specific project elements for funding to the appropriate
federal, provincial, and regional departments.
Working with Global Emerging Markets ("GEM"), the pricing and
subscription period regarding the draw-down under the Share
Subscription Facility Agreement ("SSF") with GEM, as previously
announced on September 20, 2017, has
commenced and that GEM has provided Encanto a draw-down
advance. The draw down will provide Encanto Potash with the
necessary funds for the continuing operations, feasibility study,
and FEED (front end engineering and design) work of 2018. GEM
and Encanto continue their collaboration on Encanto's financial
strategy including the sourcing of new capital partners for Encanto
Potash.
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.
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.
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.
SOURCE Encanto Potash Corp.
