Business
Lions Bay Provides Update on Progress to Acquire the Balance of Consolidated Potash Corporation
Vancouver, British Columbia--(Newsfile Corp. - November 16, 2018) - Lions Bay Capital Inc. (TS...
About this update from Lions Bay Capital, Inc.
[{"type":"text","content":"Lions Bay Provides Update on Progress to Acquire the Balance of Consolidated Potash CorporationVancouver, British Columbia--(Newsfile Corp. - November 16, 2018) - Lions Bay Capital Inc. (TSXV: LBI) (\"Lions Bay\") Further to its May 4, 2018 news release Lions Bay is pleased to provide the following update regarding Consolidated Potash Corporation (CPC):Lions Bay has received acceptances from CPC shareholders representing approximately 99.94% of the CPC shares offered for and expects to complete the acquisition before the end of the calendar year.CPC continues to make progress in growing the prospective project pipeline and commercialising the aMESTM technology.CPC is exploring pre-IPO capital raising options ahead of the planned IPO in the first half of 2019. Lions Bay is finalising the approvals required from the TSX Venture Exchange for the transaction and is providing certain information to the Exchange in order to achieve this. A detailed update on the Transaction will be made once this process is complete.Business Development of Consolidated Potash CorporationCPC has been actively evaluating a number of prospective project opportunities where the company believes there is a reasonable prospect of the aMESTM technology to create substantial value, by improving overall project financial performance. The majority of prospective potash and lithium brine projects that have been evaluated are located in Australia, Europe, North America and South America.Based on the recently performed preliminary project evaluations, CPC remains optimistic the aMESTM technology has the potential to substantially improve brine hosted mineral processing applications. Investigations to date have identified opportunities where the aMESTM technology may be able to allow certain projects to substantially reduce or potentially eliminate the need for fresh water bore fields as well as evaporation ponds. The anticipated capex savings address critical industry challenges facing greenfield project development and together with improved mineral processing efficiencies, provide a strong platform for commercialising the aMESTM technology.CPC has recently identified a highly prospective North American potash and lithium project where the aMESTM technology is particularly well suited to an integrated and accelerated development schedule, should mineral resource ...