K+S Increases Ownership of Potash One to 90.9%

Potash One Inc. (TSX:KCL)  announced that it has been advised by K+S Canada Holdings Inc. that an additional 9,006,887 common shares (the “Potash One Shares”) of Potash One have been deposited since January 18, 2011 to K+S Canada’s offer to acquire all of the issued and outstanding Potash One Shares for $4.50 in cash per Potash One Share .

The press release is quoted as saying:

Potash One has been advised by K+S Canada that since the Offer has been accepted by the holders of more than 90% of the Potash One Shares, K+S Canada intends to exercise its right to acquire the remaining approximately 8,718,914 outstanding Potash One Shares pursuant to a compulsory acquisition under the Canada Business Corporations Act. Potash One has been advised that K+S Canada expects to complete the compulsory acquisition within the next 90 days.

click here to access the entire press release