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Encanto announces additional closing of private placement
Encanto announces additional closing of private placement Encanto announces additi...
About this update from Encanto Potash Corp.
[{"type":"text","content":"\n\n\n\nEncanto announces additional closing of private placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\nEncanto announces additional closing of private placement\nCanada NewsWire\nVANCOUVER, July 13, 2016\n\n\n\nTRADING SYMBOL: TSXV:EPO\n\n\n\nVANCOUVER, July 13, 2016 /CNW/ - Encanto Potash Corp. (\"Encanto\" or the \"Company\") (TSXV: EPO) is pleased to announce that further to the closing of its private placement announced June 3, 2016, it has closed an additional 342,000 units (\"Units\") at a price of $0.105 per Unit for additional gross proceeds of $35,910.  Each Unit consists of one common share and one warrant, each warrant entitling the holder to purchase one common share at a price of $0.16 per share on or before January 13, 2019.  The proceeds from the private placement will be used for working capital. The shares and warrants comprising the Units are subject to a hold period expiring November 14, 2016.\n\nAbout Encanto:\n\nEncanto 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. on our flagship property, Encanto has a project land package which totals approximately 61,000 largely contiguous acres. A 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 & Probable KCI Reserves totaling 162 MMt grading 28% which supports primary and secondary mining for over 50 years at an assumed annual rate extraction rate of 2.8 million tonnes.\n\nThe Company has a 5% interest in the 55,000 acre Ochapowace/Chacachas property also located in Saskatchewan.\n\nThe technical content of this news release has been reviewed and approved by James Walchuck, a qualified person as defined by NI ...