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Encanto Potash CEO and Canadian First Nations Chief announce financing 40% above market value from long term investor
Encanto Potash CEO and Canadian First Nations Chief announce financing 40% above market va...
About this update from Encanto Potash Corp.
[{"type":"text","content":"\n\n\n\nEncanto Potash CEO and Canadian First Nations Chief announce financing 40% above market value from long term investor\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.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 3, 2018\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n\nTSXV: EPO\n\n\n\nVANCOUVER, Aug. 3, 2018 /CNW/ - Encanto Potash Corp. (\"Encanto\" or the \"Company\") (TSXV: EPO) is pleased to announce it has arranged financing to further its strategy to lower the Capex and engineering costs through the present studies that are being carried out, as well as for operating capital. This funding will enable Encanto to move through this present stage into the 4th quarter. At that time the Company will have the results from the Environmental Gap Analysis, Water Study and Value Engineering Studies. \n\nEncanto CEO Stavros Daskos commented: \"Encanto is the only company in the world with a twenty year 'take or pay' supply agreement with India to supply 5 million metric tons of potash annually and has a one of a kind Mineral Title issued by the Government of Canada within the laws established by the First Nations Commercial and Industrial Development Act.\" Mr. Daskos further stated: \"Encanto has proven KCI reserves and now is taking the next step on executing production in the most efficient way by having surrounded itself with a very experienced potash mining team. These are the fundamental steps taken to establish long term and secure revenue streams for the Company and to thank investors who are able to take early positions that are least dilutive to shareholders.\"\n\nThe financing will be completed as a non-brokered private placement of 1,666,666 units at a price of $0.30 per unit for a total of $500,000 (the \"Private Placement\"). Each unit will consist of one common share of the Company and one share purchase warrant (\"Warrant\"), with each Warrant entitling the holder to purchase one common share of the Company at a price of $0.18 per share for ...