Business
ETHIOPIAN POTASH APPLIES FOR LISTING ON THE OTCQX
ETHIOPIAN POTASH APPLIES FOR LISTING ON THE OTCQX.
About this update from Agriminco Corp
[{"type":"text","content":"(April 14, 2011) – Ethiopian Potash Corp. (the “Company” or “EPC” ) (TSX Venture: “FED” and “FED.wt”) is pleased to announce that it has commenced the application process for listing on the OTCQX.David Wahl, President & CEO of EPC commented: \"\"The company is actively engaged in pursuing new avenues of distribution both in the US and Internationally, in order to enhance the ability of larger audiences to participate in the Ethiopian Potash Corp. story, and to broaden its shareholder base.\"\"The Company is ramping up its exploration activities on the Danakil Project and will shortly be providing a status report on recent activities on site, in anticipation of its 15,000 metre resource definition drilling program, scheduled to start before the end of April.\"The Company also announces that as has been previously disclosed in its Information Circular and RTO filings, the Company has now issued, on April 11, 2011, an aggregate of 17,368,726 common shares (“Common Shares”) of EPC in connection with the satisfaction of the “First Milestone” under the option agreement (the “Option Agreement”) between EPC, G and B Central African Resources Ltd. (“G&B”) and the shareholders of G&B as amended and restated as of October 18, 2010, as further amended. As of November 4, 2010, the parties to the Option Agreement agreed that all of the requirements in respect to the First Milestone (as defined in the Option Agreement) have been met based on the publishing of a report on the project by a third party inferring a resource in excess of 100 million tonnes.In accordance with the policies of the TSX Venture Exchange (the “Exchange”), all of the Company’s securities that are issued to “Principals” (as defined in Exchange Policy 1.1) are considered “Value Securities” (as defined in Exchange Policy 5.4) and are therefore being held in escrow by Olympia Trust Company. All common shares issued in connection with the First Milestone are subject to such escrow and shall be released pursuant to the Tier 2 Value Security Escrow timed release.Upon the issuance of common shares in connection with the First Milestone, there are 106,371,626 Common Shares issued and outstanding.About OTCQXThe OTCQX marketplace...