Business
Encanto Potash Corp. advances Muskowekwan Project with assistance from advisory team
Encanto Potash Corp. advances Muskowekwan Project with assistance from advisory team ...
About this update from Encanto Potash Corp.
[{"type":"text","content":"\n\n\n\nEncanto Potash Corp. advances Muskowekwan Project with assistance from advisory team\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Oct. 10, 2017\n\n\n\nVANCOUVER, Oct. 10, 2017 /CNW/ - Encanto Potash Corp. (TSX-V: EPO) (\"Encanto\" or the \"Company\") an emerging potash development, Mining and Operating company that is advancing the Muskowekwan property in Saskatchewan in partnership with the Muskowekwan First Nation, announced the closing of its $100 million equity facility with GEM Investments America, LLC and GEM Global Yield LLC SCS. The first drawdown under the facility agreement is expected by Oct 15th, 2017 which will fund engineering studies for the proposed potash mine.\n\nFeatures of the Muskowekwan Project\n\n\n100% mineral rights on 61,400 largely contiguous acres with potential to expand\nFirst Nations partnership provides a critical advantage it reduces permitting and production timelines\nPre-Feasibility study completed and results released February 4, 2013\n\nProven & Probable Reserves – 162 MMt @ 27.92% KCI\nIndicated Resources – 31.3 MMt @ 28.12% KCI\nInferred Resources – 158.7 MMt @ 29.53% KCI \nPlanned solution extraction methodology will have a low environmental footprint\nExisting resource supports long life operation together with production expansion opportunities\n20-year offtake agreement in place 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 provide five million tonnes of potash annually\n\nTaylor-DeJongh Ltd, acted as financial advisor to the Company. Its extensive track record in financing large-scale infrastructure projects, along with specific experience in the mining sector, enabled Taylor-DeJongh to design an innovative financing structure to meet Encanto's needs. \n\n\"We are very pleased to act as Financial Advisor to Encanto Potash on this transaction,\" stated Ibrahim Mardam-Bey, CCO of  Taylor-DeJongh. \"We were support...