Encanto announces private placement

About this update from Encanto Potash Corp.

[{"type":"text","content":"\n\n\n/THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR\n DISTRIBUTION TO U.S. NEWSWIRE SERVICES/ \n\n\nTRADING SYMBOL:  TSXV:EPO\n\n\nVANCOUVER, Nov. 28, 2013 /CNW/ - Encanto Potash Corp. (\"Encanto\" or the\n \"Company\") (TSXV: EPO and OTCQX: ENCTF) announces it has agreed with\n investors for a private placement of up to 6,000,000 flow through units\n at a price of $0.20 per unit for gross proceeds of up to $1,200,000.\n Each unit consists of one flow-through common share (\"FT Share\") and\n one-half of one share purchase warrant, each whole warrant entitling\n the holder to purchase one non flow-through common share at $0.30 for a\n period of 18 months from the date of issuance.  The FT Shares will be\n \"flow-through\" shares pursuant to the Income Tax Act (Canada).\n\n\nEncanto will also conduct a non-brokered private placement to insiders\n of Encanto of 3,294,706 non flow-through units at a price of $0.17 per\n unit for gross proceeds of $560,100. Each unit consists of one common\n share and one-half of one share purchase warrant, each whole warrant\n entitling the holder to purchase one common share at $0.30 for a period\n of 18 months from the date of issuance.\n\n\nThe proceeds of the flow-through private placement will be used by the\n Company to incur eligible Canadian Exploration Expenses as defined by\n the Income Tax Act (Canada).  The proceeds from the non-flow through private placement\n will be used for general working capital.\n\n\nThe Company will pay a finders' fee to Secutor Capital Management Corp.\n (\"Secutor\") in respect of the flow-through private placement of 8% of\n the gross proceeds and will issue to Secutor warrants entitling it to\n purchase that number of common shares as is equal to 4% of the number\n of units sold in the flow-through private placement.  Each warrant will\n entitle Secutor to purchase one common share at a price of $0.30 for a\n period of 18 months from the date of issuance.\n\n\nCompletion of the private placement and the payment of the finder's fees\n remain subject to the acceptance for filing of the TSX Venture\n Exchange.  All securities issued under the private placement will have\n a four month statutory hold period.\n\n\nAbout Encanto:\n\n\nEncanto Potash Corp. is a TSX Venture Exchange listed and OTCQX traded\n Canadi...

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