TSXV: EPO
VANCOUVER, Aug. 9, 2019 /CNW/ - Encanto Potash Corp.
("Encanto" or the "Company") (TSXV: EPO) is pleased to announce it
has a secured an operating line of credit in the amount of
$7.5 million from National Bank of
Canada. The funds will be
available as a general operating line of credit.
"We are extremely pleased to have successfully secured a
relationship with a top tier Canadian bank to increase the capital
available to the Company as we move forward with Encanto's business
objectives." commented Stavros
Daskos, President and CEO of Encanto.
About Encanto Potash Corp.
Encanto Potash Corp. is a
TSX Venture Exchange listed and traded Canadian Resource company
engaged in the development of potash properties in the Province of
Saskatchewan, Canada, the largest
producing potash region in the world. Through a joint venture
agreement with Muskowekwan Resources Ltd, Encanto has secured a
project land package which totals approximately 61,000 largely
contiguous acres. Pre-Feasibility Study dated February 28, 2013 titled "Encanto Potash Corp.
Technical Report Summarizing the Preliminary Feasibility Study for
the Muskowekwan First Nations Home Reserve Project in South Eastern
Saskatchewan, Canada" confirms the Proven and Probable KCI Reserves
totaling 162 Mt grading 28% KCl (average) which supports primary
and secondary mining for over 50 years at an assumed annual rate
extraction rate of 2.8 Mt of MOP. The PEA dated May 24, 2017 titled " NI 43-101 Technical
Report on a Preliminary Economic Assessment and Preliminary
Feasibility Study of the Muskowekwan Potash Project, South-Eastern
Saskatchewan, Canada" summarizes an alternative development option
that supports primary and secondary mining of the Mineral Resources
for 48 years at an annual extraction rate of 3.4 Mt of MOP. 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
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LITIGATION REFORM ACT OF 1995. THIS INFORMATION AND THESE
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FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF
FORWARD-LOOKING TERMINOLOGY SUCH AS "EXPECTS", "ANTICIPATES",
"PLANS", "PROJECTS", "ESTIMATES", OR VARIATIONS THEREOF OR
STATING THAT CERTAIN ACTIONS, EVENTS OR RESULTS "MAY", "COULD",
"WOULD", OR "MIGHT" BE TAKEN, OCCUR OR BE ACHIEVED. FORWARD-LOOKING
STATEMENTS, WHILE BASED ON MANAGEMENT'S BEST ESTIMATES AND
ASSUMPTIONS, ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT MAY CAUSE
ACTUAL RESULTS TO BE MATERIALLY DIFFERENT FROM THOSE EXPRESSED OR
IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS, INCLUDING BUT NOT
LIMITED TO: RISKS RELATING TO THE PROPOSED LINE OF CREDIT; THE
AVAILABILITY OF FUTURE FINANCING; INCREASES IN FINANCING
COSTS OR ADVERSE CHANGES TO THE TERMS OF AVAILABLE FINANCING, IF
ANY; INCREASES IN THE ESTIMATED CAPITAL AND OPERATING COSTS OR
UNANTICIPATED COSTS; FLUCTUATIONS IN THE CURRENCY MARKETS;
FLUCTUATIONS IN COMMODITY PRICES; VARIATIONS IN THE MINERAL CONTENT
WITHIN THE MATERIAL IDENTIFIED AS MINERAL RESOURCES FROM THAT
PREDICTED; VARIATIONS IN RATES OF RECOVERY AND EXTRACTION;
OPERATIONAL AND INFRASTRUCTURE RISKS; CHANGES IN PROJECT PARAMETERS
AS PLANS CONTINUE TO BE REFINED; CHANGES IN DEVELOPMENT OR MINING
PLANS DUE TO CHANGES IN LOGISTICAL, TECHNICAL OR OTHER FACTORS;
CHANGES TO AND COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS,
INCLUDING ENVIRONMENTAL LAWS AND OBTAINING REQUISITE PERMITS; RISKS
RELATING TO RECEIPT OF REGULATORY APPROVALS; AND THE EFFECTS OF
COMPETITION IN THE MARKETS IN WHICH ENCANTO OPERATES. ALTHOUGH
MANAGEMENT HAS ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD
CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN
FORWARD-LOOKING STATEMENTS, THERE MAY BE OTHER FACTORS THAT CAUSE
RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED OR INTENDED. THERE CAN
BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE, AS
ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE
ANTICIPATED IN SUCH STATEMENTS. ACCORDINGLY, READERS SHOULD NOT
PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS. ENCANTO
DISCLAIMS ANY OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENTS
CONTAINED HEREIN OR TO PUBLICLY ANNOUNCE THE RESULT OF ANY
REVISIONS TO ANY SUCH STATEMENTS TO REFLECT FUTURE RESULTS, EXCEPT
AS REQUIRED BY APPLICABLE SECURITIES LAW. PLEASE REFER TO ENCANTO'S
MOST RECENT FILINGS UNDER ITS PROFILE AT WWW.SEDAR.COM FOR
FURTHER INFORMATION RESPECTING THE RISKS AFFECTING ENCANTO AND ITS
BUSINESS.
SOURCE Encanto Potash Corp.
