Potash

Great Quest Fertilizer Ltd is a resource development company. Principally, it is engaged in the exploration and development of exploration and evaluation properties located in Mali, West Africa. The company's project consists of Tilemsi phosphate is located in eastern Mali, Sua Pan Potash located in northern Botswana, and Sanoukou gold project.

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Best Potash Stocks on the ASX

Read on to learn more about the top five Australian potash companies on the ASX, ranked by year-to-date gains.

Potash, a potassium-rich salt mineral, is generally used in fertilizers to facilitate the production of crop growth, disease resistance, and water retention in plants.

As the world’s population continues to swell, potash will become an increasingly important resource, as it can be used to improve crop yields and maximize global food production. Many potash companies focus on sustainable production, making their work doubly useful in an ever-expanding and globalizing world.

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Western Potash Holdings Corp. Receives First Tranche of $33 Million Equity Funding From Vantage Chance Limited

Western Resources Corp. is pleased to announce that Western Potash Holding Corp. has received the first tranche of its equity funding proceeds from Vantage Chance Limited in the amount of $33 million, as part of the previously announced Investment Transaction, in exchange for the issuance to Vantage of 64,896,592 common shares of WPHC. Aggregate proceeds from the Investment Transaction, together with the first ...

Western Resources Corp. ("Western" or the "Company") (TSX: WRX) is pleased to announce that Western Potash Holding Corp. ("WPHC") has received the first tranche of its equity funding proceeds from Vantage Chance Limited ("Vantage") in the amount of $33 million, as part of the previously announced Investment Transaction, in exchange for the issuance to Vantage of 64,896,592 common shares of WPHC. Aggregate proceeds from the Investment Transaction, together with the first tranche of funding received last week from Appian Capital Advisory, will be used to continue and complete the remaining construction and development of the Milestone Phase I Project (the "Project"), and for general and administrative expenses of the Project.

Pursuant to an Amended and Restated Subscription Agreement dated May 20, 2022, Vantage will purchase from WPHC and WPHC will issue to Vantage an additional 92,428,479 common shares for an aggregate purchase price of C$47,000,000 (the "Subsequent Subscription") on or before July 31, 2022. Upon closing of the Subsequent Subscription, Vantage will be the registered and beneficial owner of an aggregate amount of 157,325,071 common shares of WPHC, representing 54% of total issued and outstanding common shares in WPHC for total proceeds of $80,000,000.00, while Western will hold the remaining 46% of the issued and outstanding WPHC common shares. Western Potash Corp. becomes a wholly owned subsidiary of WPHC.

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5 Top Weekly TSX Performers: Verde Agritech Updates PFS for Cerro Verde

Last week's top-gaining stocks on the TSX were Filo Mining, Cardinal Energy, Largo, Aya Gold and Silver and Verde Agritech.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was at 20,316.84 early last Friday (May 20) morning.

After starting the week at 20,116.04, the index began to rise following China’s decision to cut a key interest rate for long-term loans to boost its real estate market; it ultimately closed at 20,197.24.

“Today’s reduction to the five-year Loan Prime Rate (LPR) should help drive a revival in housing sales, which have gone from bad to worse recently,” Reuters quotes Julian Evans-Pritchard of Capital Economics as saying. “But the lack of any reduction to the one-year LPR suggests that the (People's Bank of China) is trying to keep easing targeted and that we shouldn’t expect large-scale stimulus of the kind that we saw in 2020.”

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Western Resources Corp. and Vantage Chance Limited Signs Amended and Restated Subscription Agreement

Western Resources Corp. is pleased to announce that it has entered into an Amended and Restated Subscription Agreement originally signed on February 16, 2022 with Vantage Chance Limited in which Vantage has committed to make a strategic equity investment of C$80,000,000 in Western Potash Holdings Corp. a wholly owned subsidiary of the Company. The Amendment will be available on SEDAR under the issuer profile of the ...

Western Resources Corp. ("Western" or the "Company") (TSX: WRX) is pleased to announce that it has entered into an Amended and Restated Subscription Agreement (the "Amendment") originally signed on February 16, 2022 with Vantage Chance Limited ("Vantage"), in which Vantage has committed to make a strategic equity investment of C$80,000,000 (the "Investment Transaction") in Western Potash Holdings Corp. ("WPHC"), a wholly owned subsidiary of the Company.

The Amendment includes, among others, the following two material changes:
1. Subject to satisfaction or waiver of all closing conditions, the Investment Transaction will close in two tranches:
a. on or before May 31, 2022, Vantage will purchase from WPHC and WPHC agrees to issue to Vantage 64,896,592 common shares at a purchase price of C$33,000,000; and
b. on or before July 31, 2022 (the "Subsequent Closing Date"), Vantage will purchase from WPHC and WPHC agrees to issue to Vantage 92,428,479 common shares at a purchase price of C$47,000,000 (the "Subsequent Subscription").
On Subsequent Closing Date, Vantage will be the registered and beneficial owner of an aggregate of 157,325,071 common shares of WPHC, representing 54% of the total issued and outstanding common shares in WPHC for total proceeds of $80,000,000.00.
2. Within 180 days after the Closing of the Subsequent Subscription, either of the Company or Vantage may elect to convert all of the 157,325,071 shares held by Vantage into 219,726,258 common shares of the Company, which will represent approximately 54% of the current total issued and outstanding common shares of the Company (the "Conversion Option"). There are no anti-dilution provisions which provide an adjustment for events for which not all securities holders are compensated for.
The exercise of Conversion Option will create a new control person of the Company. The conversion will be subject to the TSX approval and Western shareholders' approval.

The Amendment will be available on SEDAR under the issuer profile of the Company at www.sedar.com.

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