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Potash Ridge Signs Lease Modifications for Blawn Mountain Project
Jun. 08, 2015 09:53AM PST
Potash InvestingPotash Ridge Corporation (TSX:PRK) announced it has entered into a modification of the Blawn Mountain Project Mining Lease Agreement with the Utah School and Institutional Trust Land Administration that cures the event of default under the Lease that occurred on March 31, 2015.
Potash Ridge Corporation (TSX:PRK) announced it has entered into a modification of the Blawn Mountain Project Mining Lease Agreement with the Utah School and Institutional Trust Land Administration that cures the event of default under the Lease that occurred on March 31, 2015.
As quoted in the press release,
Under the terms of the modification, SITLA has agreed to forbear from exercising its rights and remedies resulting from Potash Ridge’s failure to make lease and minimum royalty payments to SITLA under the terms of the Lease. The forbearance period is from March 31, 2015 to April 1, 2017.
Click here for the full Potash Ridge Corporation (TSX:PRK) press release