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Western Potash Corp. Provides Update to Shareholders
Western Potash Corp. Provides Update to Shareholders Western Potash Corp. Provides...
About this update from Western Resources Corp
[{"type":"text","content":"\n\n\n\nWestern Potash Corp. Provides Update to Shareholders\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\nWestern Potash Corp. Provides Update to Shareholders\nCanada NewsWire\nVANCOUVER, Jan. 11, 2016\n\n\n\nTSX: WPX FSE: AHE\n\n\n\nVANCOUVER, Jan. 11, 2016 /CNW/ - Western Potash Corp. (WPX: TSX) (FSE: AHE) (the \"Western\", \"the Company\") is pleased to provide the following update to shareholders.\n\n2015 was a transformational year for Western.  Shareholders would be aware of the negative tone of much of the news in the potash industry, highlighted by a declining price for the commodity and signs of an over supplied market.  Investors have now experienced several years of difficult markets for most companies in the mining industry with those in the potash and other fertilizer businesses being no exception.  It is not news that one of the major challenges has been the scarcity of capital for the development of projects, where only the most exceptional projects have attracted significant amounts of capital.  In the face of this challenging environment and following a detailed due diligence process, Western was pleased to announce a strategic investment of CAD $80 Million from the Chinese private equity firm Tairui Innovation Capital Management Ltd., closing in September of 2015.  Along with the cash injection, Western was pleased to receive the additions at the board level of Geoffrey Chang in the position of Chairman of the Board, and Bill Xue as a Director.  Both individuals bring significant experience in the financing, development and operation of resource projects.  For Western, the financing represents confirmation of the extraordinary attributes of the Milestone Potash Project in a financing environment where the race for development funding is highly competitive. \n\nWestern made the decision to re-scope the Milestone Project in 2015 with the aim of investigating alternative methods of mining the deposit.  While traditional solution mining methods in Saskatchewan have been successful for many years, the Comp...