Encanto Potash Corp. Announces First Nations and Metis Fund/Muskowekwan Investment in Encanto

Encanto Potash Corp. (TSXV:EPO,OTCQX:ENCTF) announced an equity investment by the Muskowekwan First Nation for $3 million.

As quoted in the press release:

The equity investment will be effected by a non-brokered private placement of up to 13,043,479 Units (the “Units”) at$0.23 per Unit to raise gross proceeds of approximately $3,000,000.  Each Unit will consist of one common share and one-half of one common share purchase warrant.

MFN Chief Reginald Bellerose said:

As a First Nation, we’re not only looking forward to the employment, royalties and education opportunities that the joint venture with Encanto offers our people, but feel that at this stage in Encanto’s development, the direct investment offers the opportunity to strengthen the strategic partnership between MRL and Encanto as well as the opportunity for appreciation as Encanto moves toward building a solution mine on our lands.

Click here for the Encanto Potash Corp. (TSXV:EPO) press release.