Business
Encanto Potash Corp. Announces Closing of the Muskowekwan First Nations Investment
Trading Symbol: TSXV EPO.V VANCOUVER, Dec. 9, 2011 /CNW/ - Encanto Potash Corp. ("Encanto...
About this update from Encanto Potash Corp.
[{"type":"text","content":"\n\n\n\n\n\nTrading Symbol: TSXV EPO.V\n\n\nVANCOUVER, Dec. 9, 2011 /CNW/ - Encanto Potash Corp. (\"Encanto\" or the\n \"Company\") (TSXV:EPO) (OTCQX:ENCTF) is pleased to report the closing of\n its previously announced (see press release dated November 16, 2011)\n non-brokered private placement of 12,940,000 units for aggregate gross\n proceeds of $2,976,200.  The proceeds will be used to provide the\n Company with working capital for engineering studies, marketing and\n general administrative expenses.\n\n\nThe investment was priced at $0.23 per unit, with each unit consisting\n of one common share and one-half of one common share purchase warrant. \n Each whole warrant will entitle the holder to acquire one common share\n of the Company at an exercise price of $0.35 per common share until\n December 9, 2014. All securities issued in connection with the private\n placement will be subject to a hold period expiring on April 10, 2012.\n\n\nAbout Encanto:\n\n\nEncanto Potash Corp. is a TSX Venture Exchange and OTCQX listed Canadian\n resource company engaged in the exploration and development of potash\n properties in the Province of Saskatchewan, Canada, the largest\n producing region for potash in the world. Encanto's flagship\n Muskowekwan First Nation property has a recent NI 43-101 resource\n estimate containing 79.1 million tonnes of KCI grading 29.4% in the\n Indicated resources category along with 60.5 million tonnes grading\n 29.7% in the Inferred resource category. These resources, based on the\n solution mining method, may be increased substantially with the\n addition of the Treaty Land Entitlement acreage. A Preliminary Economic\n Assessment (PEA), based solely on the Indicated Resource estimate, was\n released in August of 2011 and a further release of an expanded NI\n 43-101 compliant resource estimate is scheduled in 2012.\n\n\nThe technical content of this news release has been reviewed by Ross\n Moulton, VP of Exploration for Encanto, a qualified person as defined\n by NI 43-101.\n\n\nFor additional information about Encanto Potash Corp., please visit the\n Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\n\n\n \n\n\"James Walchuck\"\n\n\nPer:\n\n\n_______________\n\n\n\n\nJames Walchuck\nPresident and...