Encanto Potash (TSX-V: EPO) (“Encanto” or the “Company”) an emerging potash development, Mining and Operating company that is advancing the Muskowekwan property in Saskatchewan in partnership with the Muskowekwan First Nation, announced the closing of its $100 million equity facility with GEM Investments America and GEM Global Yield. The first drawdown under the facility agreement is expected by Oct 15th, 2017 which will fund engineering studies for the proposed potash mine.
Taylor-DeJongh Ltd, acted as financial advisor to the Company. Its extensive track record in financing large-scale infrastructure projects, along with specific experience in the mining sector, enabled Taylor-DeJongh to design an innovative financing structure to meet Encanto’s needs.
Ibrahim Mardam-Bey, CCO of Taylor-DeJongh, said:
“We are very pleased to act as Financial Advisor to Encanto Potash on this transaction. We were supported by a great Encanto team and are confident that they are now able to begin executing on their business plan in this exciting sector.
Taylor-DeJongh is also very proud to be a part of the positive social impact this project will provide to First Nations communities.”