Trading Symbol: TSX-V: EPO
VANCOUVER, Feb. 13, 2012 /CNW/ - Encanto Potash Corp. ("Encanto" or the
"Company") (TSXV: EPO) (OTCQX: ENCTF) announces that TSX Venture
Exchange approval has been received and 400,000 common shares and
400,000 common share purchase warrants have been issued to Muskowekwan
Resources Limited ("MRL"), as general partner of the Muskowekwan
Limited Partnership and the Muskowekwan First Nation ("MFN") for
Encanto's opportunity to add significant new lands to the current Joint
Venture Agreement with MRL and MFN. The common share purchase
warrants will be exercisable at a price of $0.26 per share until
February 1, 2014. In addition, further consideration for the
opportunity to add these lands to the current Joint Venture Agreement,
Encanto has paid MFN $100,000.
As previously mentioned these new additional lands will be part of the
upcoming sub-surface land designation vote on February 25, 2012. The
securities issued in regards to this transaction will be subject to a
hold period expiring on June 2, 2012.
Encanto Potash Corp. is a TSX Venture Exchange and OTCQX listed Canadian
resource company engaged in the exploration and development of potash
properties in the Province of Saskatchewan, Canada, the largest
producing region for potash in the world. Encanto's flagship
Muskowekwan First Nation property has a recent NI 43-101 resource
estimate containing 79.1 million tonnes of KCI grading 29.4% in the
Indicated resources category along with 60.5 million tonnes grading
29.7% in the Inferred resource category. These resources, based on the
solution mining method, may be increased substantially with the
addition of the Treaty Land Entitlement acreage. A Preliminary
Economic Assessment (PEA), based solely on the Indicated Resource
estimate, was released in August of 2011 and a further release of an
expanded NI 43-101 compliant resource estimate is scheduled in 2012.
The technical content of this news release has been reviewed by Ross
Moulton, VP of Exploration for Encanto, a qualified person as defined
by NI 43-101.
For additional information about Encanto Potash Corp., please visit the
Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
THE FOREGOING INFORMATION MAY CONTAIN FORWARD-LOOKING INFORMATION
RELATING TO THE FUTURE PERFORMANCE OF THE COMPANY. FORWARD LOOKING
INFORMATION IS SUBJECT TO A NUMBER OF KNOWN AND UNKNOWN RISKS,
UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THOSE ANTICIPATED IN OUR FORWARD LOOKING STATEMENTS.
SUCH RISKS AND OTHER FACTORS INCLUDE, AMONG OTHERS, THE ACTUAL RESULTS
OF EXPLORATION ACTIVITIES, CHANGES IN WORLD COMMODITY MARKETS OR EQUITY
MARKETS, THE RISKS OF THE MINING INDUSTRY INCLUDING, WITHOUT
LIMITATION, THOSE ASSOCIATED WITH THE ENVIRONMENT, DELAYS IN OBTAINING
GOVERNMENTAL APPROVALS, PERMITS OR FINANCING OR IN THE COMPLETION OF
DEVELOPMENT OR CONSTRUCTION ACTIVITIES, TITLE DISPUTES, CHANGE IN
GOVERNMENT AND CHANGES TO REGULATIONS AFFECTING THE MINING INDUSTRY,
AND OTHER RISKS AND UNCERTAINTIES DETAILED FROM TIME TO TIME IN THE
COMPANY'S FILINGS WITH THE CANADIAN SECURITIES ADMINISTRATORS
(AVAILABLE AT WWW.SEDAR.COM). FORWARD-LOOKING STATEMENTS ARE MADE BASED ON VARIOUS ASSUMPTIONS AND
ON MANAGEMENT'S BELIEFS, ESTIMATES AND OPINIONS ON THE DATE THE
STATEMENTS ARE MADE. SHOULD ONE OR MORE OF THESE RISKS AND
UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE
INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN
THE FORWARD-LOOKING INFORMATION CONTAINED HEREIN. THE COMPANY
UNDERTAKES NO OBLIGATION TO UPDATE FORWARD-LOOKING STATEMENTS IF THESE
ASSUMPTIONS, BELIEFS, ESTIMATES AND OPINIONS OR OTHER CIRCUMSTANCES
SHOULD CHANGE, EXCEPT AS REQUIRED BY APPLICABLE LAW.
SOURCE Encanto Potash Corp.
For further information:
President and CEO
Vanguard Shareholder Solutions
Toll Free: 1-866-918-0824