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TRADING SYMBOL: TSXV:EPO
VANCOUVER, April 15, 2014 Encanto Potash Corp.
("Encanto" or the "Corporation") (TSXV: EPO) (OTCQX:
ENCTF) is pleased to announce that further to its news release of
March 12, 2014 it has closed its
short form prospectus offering and has raised gross proceeds of
$3,650,901 through the issuance of
units ("Units") and flow-through units ("Flow-Through
Units").
Encanto raised $2,650,912 from the
sale of 15,593,600 Units at a price of $0.17 per Unit, with each such Unit consisting of
one common share and one half of one share purchase warrant, each
whole warrant entitling the holder to purchase one non flow-through
common share at a price of $0.30 per
share on or before October 15,
2015.
Encanto raised $999,989 from the
sale of 5,263,100 Flow-Through Units at a price of $0.19 per Flow-Through Unit, with each such
Flow-Through Unit consisting of one flow through common share
("FT Share") and one half of one share purchase warrant,
each whole warrant entitling the holder to purchase one non
flow-through common share at a price of $0.30 per share on or before October 15, 2015. The FT Shares will be
"flow-through" shares pursuant to the Income Tax
Act.
Secutor Capital Management Corporation acted as lead agent in
connection with the offering and Haywood Securities Inc. acted as
agent.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "James Walchuck"
James Walchuck
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.
