Encanto Potash Corp Secures CAD $100 Million Capital Commitment From GEM Global
Melissa Shaw - September 20th, 2017
Encanto Potash (“Encanto” or the “Company”) the TSX-V listed Potash development; Mining and Operating company (TSX-V: EPO) is pleased to announce that it has secured a commitment for a CAD $100 million funding facility. Under the funding agreement signed 15th September, 2017 (the “Agreement”), GEM Investments America and GEM Global Yield undertake to invest up to CAD $100,000,000 over the … Continued
Encanto Potash (“Encanto” or the “Company”) the TSX-V listed Potash development; Mining and Operating company (TSX-V: EPO) is pleased to announce that it has secured a commitment for a CAD $100 million funding facility.
Under the funding agreement signed 15th September, 2017 (the “Agreement”), GEM Investments America and GEM Global Yield undertake to invest up to CAD $100,000,000 over the next three years. Upon a drawdown notice being issued from the Company shares will be issued at a price 90% of the market price subject to a $.05 per share minimum.
Under the funding agreement signed 15th September, 2017 (the “Agreement”), GEM Investments America and GEM Global Yield undertake to invest up to CAD $100,000,000 over the next three years. Upon a drawdown notice being issued from the Company shares will be issued at a price 90% of the market price subject to a $.05 per share minimum.
Stavros Daskos, Chief Executive Officer of Encanto Potash, said:
“This commitment secures funding for Encanto’s mining and supply plan over the next three years.
We will continue working closely with our land partners at Muskowekwan Resources Ltd to ensure First Nation’s involvement in the project. GEM’s commitment validates our strategy to seek long-term strategic partners.”
