Pacific Potash Corp Acquires Brazilian Subsidiary and Completes Option Agreement
26.04.2013 | The Newswire
VANCOUVER, BRITISH COLUMBIA - April 26th, 2013 - Pacific Potash Corp Acquires Brazilian Subsidiary and Completes Option Agreement (TSX-V: PP; OTCQX: PPOTF; FSE: P9P, "Pacific Potash" "the Company") is pleased to announce that it has earned it's 100% working interest in the Amazonas Basin Potash claims and completed the acquisition of the Brazilian company Potassio Ocidental Mineracao Ltda. from Western Potash Corp. ("Western"). Subject to the terms and conditions of the previously announced ammended option agreement, the Company has issued Western 1,000,000 common shares. Potassio Occidental Mineraco Ltd. is now a 100% owned subsidiary of Pacific Potash which will allow the Company to conduct business within Brazil in a much more efficient manner.Balbir Johal, Executive Chairman and Director, stated "The early acquisition of Potassio Occidental Mineraco Ltd. will also aid us in pursuing strategic investment and business partnerships in Brazil, as well as the ability to aggressively pursue other potential mineral resource acquisitions in the country."
Pacific Potash also wished to announce that with the closing of $2.25 million in financing, the Company has granted 2,800,000 options. The options have an exercise price of $0.10 and will be vested in accordance with the policies of the TSX Exchange.
About Pacific Potash Corporation:
Pacific Potash Corp Acquires Brazilian Subsidiary and Completes Option Agreement trades on the TSX Venture Exchange under the symbol: PP, as well on the OTCQX under the symbol: PPOTF and on the Frankfurt Stock Exchange under P9P. Pacific Potash is engaged in the exploration and development of the Amazonas Basin Project and the surrounding potash claims targeting the Middle Amazonas Potash Basin, currently the host to multiple new exploration campaigns for potash. The Company also is exploring the Provost Potash Property and the surrounding potash claims targeting the prolific Prairie Evaporite Formation, which is host to multiple conventional and solution potash mines.
On behalf of the Board, Pacific Potash Corp Acquires Brazilian Subsidiary and Completes Option Agreement
Balbir Johal, LL.B
Executive Chairman & Director
For further information, please visit our website at www.pacificpotash.com or contact our V.P of Corporate Communications, Mike Blady:
Mike Blady
Office: 604.895.7446
Email: mblady@pacificpotash.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Pacific Potash in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Pacific Potash's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Pacific Potash disclaims any obligation to update or revise any forward-looking information or statements except as may be required.