Business
ENCANTO POTASH CORP. ENTERS INTO JOINT VENTURE FOR THE EXLORATION OF OIL AND GAS ASSETS ON FIRST NATIONS LANDS IN SASKATCHEWAN
ENCANTO POTASH CORP. ENTERS INTO JOINT VENTURE FOR THE EXLORATION OF OIL AND GAS ASSETS ON FIRST ...
About this update from Encanto Potash Corp.
[{"type":"text","content":"\n\n\n\n Sep. 16, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n Trading Symbol:  TSXV   EPO.V\n \n\n VANCOUVER, Sept. 16 /CNW/ - Encanto Potash Corp. ("Encanto") is pleased\n to announce that its operating subsidiary, Encanto Resources Ltd. (the\n "Company"), has entered into a joint venture agreement (the "Sundance\n Agreement") with Sundance Energy Corporation ("Sundance") pursuant to\n which:\n \n\n\n\n\n a.\n \n\n  \n \n\n  \n \n\n the Company and five First Nations intend to grant Sundance a\n license on all of the seismic data (2D and 3D) owned by the Company\n and the First Nations with respect to the First Nations' lands in\n consideration for 10,000,000 shares of Sundance (5,000,000 for the\n Company and 1,000,000 to each of the First Nations), which will be\n replaced by an aggregate $2,000,000 in cash by June 15, 2011 if\n Sundance has not completed an IPO or an RTO to become a public\n company before April 1, 2011.\n \n\n\n\n b.\n \n\n  \n \n\n  \n \n\n the Company will enter into a joint venture agreement with each of\n the First Nations (the "JV Agreements") with respect to the\n exploration and development of oil and gas on the First Nations'\n lands on the terms set out in the JV Agreements, which the Company\n will then assign to Sundance in consideration for $100,000 and\n 2,800,000 shares of Sundance for each JV Agreement so assigned.\n \n\n\n\n To date, JV Agreements, Sei...