Encanto Potash Corp Secures CAD $100 Million Capital Commitment from GEM Global
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.
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Logitech Delivers Record Sales, Up 22%23.1.2018 05:00 | Tiedote
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the third quarter of Fiscal Year 2018. Q3 sales were an all-time record $812 million, up 22 percent in US dollars and 18 percent in constant currency, compared to Q3 of the prior year. Q3 GAAP operating income amounted to $100 million, compared to $96 million in the same quarter a year ago. Q3 GAAP earnings per share (EPS) amounted to $0.48, compared to $0.59 in the same quarter a year ago. GAAP profitability was impacted by a one-time $16 million net tax expense following the reduction in the U.S. federal income tax rate and other reforms. Q3 non-GAAP operating income grew 18 percent to $117 million, compared to $99 million in the same quarter a year ago. Q3 non-GAAP EPS grew 16 percent to $0.65, compared to $0.56 in the same quarter a year ago. Cash flow from operations grew 27 percent to $189 million, the highest quarterly level ever. “This holiday quarter, we’ve delivered our highest quarterly s
bitFlyer Launches in Europe and Becomes the World’s First Bitcoin Exchange to Be Regulated in Japan, the US and Europe23.1.2018 03:01 | Tiedote
bitFlyer, the Tokyo-based operator of the world’s largest1 Bitcoin exchange, today announced its launch into Europe. Having been granted a Payment Institution (PI) license to operate in the European Union it has become the first Bitcoin exchange to be regulated in Japan, the US and Europe, making it the most compliant virtual currency exchange in the world. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180122006686/en/ bitFlyer CEO, Yuzo Kano, with Luxembourg Minister of Finance, Pierre Gramegna. (Photo: Business Wire) bitFlyer’s launch into Europe comes hot on the heels of explosive growth in Japan and launch in the US in 2017. With 25 percent2 of worldwide bitcoin exchange volumes being facilitated by bitFlyer and over $250bn in virtual currency traded on its platform in 2017, bitFlyer is the world’s largest Bitcoin exchange and the only one licensed in Europe that will allow users to trade with Japan, the world’s largest
Corsearch Names Diane Plaut as Global General Counsel and Head of HR23.1.2018 00:00 | Tiedote
Corsearch, a trademark and domain solutions leader, is pleased to announce that Diane Plaut has joined the company as Global General Counsel and Head of HR, reporting to President and CEO Tobias Hartmann. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180122006527/en/ Diane Plaut, Global General Counsel and Head of HR, Corsearch (Photo: Business Wire) A long-time Corsearch Advisory Board member, client, and collaborator, Ms. Plaut brings to Corsearch over 25 years of experience in global intellectual property law, IP portfolio management, brand protection and enforcement, corporate law, privacy, and compliance. Ms. Plaut’s arrival comes as Corsearch begins a new chapter as an independent company, following its acquisition by Audax Private Equity earlier this month. “Diane is a born leader who is deeply knowledgeable about Corsearch products and services and the industry we serve,” said Mr. Hartmann. “Her passion for our compa
Bacardi to Acquire Patrón Tequila22.1.2018 23:28 | Tiedote
Family-owned Bacardi Limited, the largest privately held spirits company in the world, announced today that it is expanding its portfolio of premium spirits with a definitive agreement to acquire 100% ownership of Patrón Spirits International AG and its PATRÓN® brand, the world’s top-selling ultra-premium tequila. The transaction, which is subject to customary closing conditions, follows the successful relationship the companies have had for nearly a decade since Bacardi’s initial acquisition of a significant minority stake in Patrón in 2008. The transaction reflects an enterprise value for Patrón of US$5.1 billion and is expected to close in the first half of 2018. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180122006459/en/ Bacardi agrees to acquire 100% ownership of Patrón Spirits International and its PATRÓN® brand, the world’s top-selling ultra-premium tequila. (Photo: Business Wire) According to the most recent IWSR
PMI’s Salary Survey Reveals that Project Management Practitioners with the PMP Certification Earn 23% More22.1.2018 19:58 | Tiedote
Project Management Institute’s (PMI) Earning Power Report reveals a significant advantage in earning potential for PMP® certified practitioners. Survey respondents holding the Project Management Professional (PMP)® certification report higher median salaries than those without a PMP certification―23% higher on average across the 37 countries surveyed. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180122006262/en/ (Graphic: Business Wire) The Earning Power: Project Management Salary Survey is a comprehensive biennial salary survey that offers insight into the value of project management skills, experience and certifications. It is an industry-leading source of data, giving project management practitioners a greater awareness of their earning potential and helping employers, compensation committees, human resource departments and executive recruiters to better determine salary ranges. The 10th edition of the survey incorporate
ABB and City of Davos Pave the Way to Sustainable Mobility Through E-Vehicle Innovation22.1.2018 18:41 | Tiedote
For this year’s annual World Economic Forum (January 23–26, 2018), the city of Davos and ABB have teamed up in a long-term partnership to provide e-infrastructure for public and private transportation. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180122006126/en/ ABB flash-charging station in Davos (Photo: Business Wire) Davos residents and WEF guests can experience the pioneering TOSA bus for themselves. The award-winning TOSA bus, developed by ABB in Switzerland, is already in use in Geneva and will soon be implemented in the French city of Nantes. It can recharge its battery in just 20 seconds as passengers board and disembark. In Davos, it will operate on the busy Line 1, running from the tourist center to the hospital. This is the first time TOSA technology is being used in an Alpine region. The idea is to run the system under extreme winter weather conditions; ABB and its project partners expect to gain valuable insig
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme