African Potash Extends Deadline for Farm-out Deal

African Potash Ltd. (LSE:AFPO) provided an update on the status of a farm-out transaction relating to its interest in the Lac Dinga project in the Republic of Congo. The transaction is with African Agronomix Ltd., and both companies have now entered into an extension letter to complete the deal.
The extension letter confirms that:

• AAX is satisfied with the results of its legal and technical due diligence into the Project (thereby satisfying this relevant Condition)
• the remaining Conditions are “less critical to the ability of the Parties to perform” the Farm-Out. As a result, the Company and AAX have agreed to extend timing and/or reduce the requirement for satisfaction of certain of the Conditions; and
• the Company and AAX have agreed to extend the timetable for satisfying or waiving all the remaining Conditions until 15 September 2017.