TSXV: EPO
VANCOUVER, Sept. 24, 2018 /CNW/ - Encanto Potash Corp.
("Encanto" or the "Company") (TSXV: EPO) is pleased to announce
H.E. Mr. Zulfiquar Ghadiyali, as a new member of the board of
directors of the Company. Mr. Ghadiyali has been in India working with Mr. Daskos since
April 2015. He has been key to
strategic relationships that started Encanto's momentum in
India and has given the Company
visibility with strategic partnerships internationally.
"Zulfiquar joins Encanto's Board as the Company continues to
transition from its legacy as a junior mining company and into a
performing asset. There is much work to do and his energy, tenacity
and resilience are an asset," commented Encanto CEO Stavros Daskos.
"We've come a long way to bring Encanto to a level where it's
all poised to become an operating potash company. We've put a lot
of effort to conclude a long term offtake and now the focus is to
achieve financial closure to be able to start production to
delivery. We've been in the last leg of our conversation with
several legacy investors and investment funds to come on board as
this is a long term endeavour to serve the world through food
security. We look forward to further our cause by working
very closely with our stakeholders, government and regulatory
authorities to ensure timely operations in order to meet delivery
timelines," said H.E. Mr. Zulfiquar Ghadiyali.
H. E. Mr. Zulfiquar Ghadiyali is CEO of The Royal office of His
Royal Highness Sheikh Tahnoon bin Saeed bin
Tahnoon Al Nahyan- grandson of Rulers representative of
Al Ain, Abu Dhabi. H.E. Ghadiyali's role as a CEO
involves business and strategic management of investments and
projects across Asia and
Middle East in field of Real
Estate, hospitality and General Trading and investments for the
Royal office. H.E. Mr. Ghadiyali have been involved in various
Social entrepreneurship projects across Asia, India
and Africa and have worked for
refugee and humanitarian cause worldwide H.E. Ghadiyali represents
industry and society at large and have been pioneer in supporting
companies from across the world to establish in Middle East and North Africa with support of highest levels
through office of HRH sheikh. Mr. Ghadiyali Is involved on various
social and political initiatives in India and UAE. He commands several important
positions across oil and Gas Trading, logistics,
Education, Aerospace sectors.
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. On
December 30, 2016, Encanto signed a
20-year off-take agreement with the National Federation of
Farmers' Procurement, Processing, and Retailing Cooperatives of
India Ltd., (NACOF) registered under the Ministry of Agriculture,
Government of India to supply 5
million metric tons a year of potash. 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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THIS DOCUMENT MAY CONTAIN "FORWARD-LOOKING INFORMATION" WITHIN
THE MEANING OF CANADIAN SECURITIES LEGISLATION AND "FORWARD-LOOKING
STATEMENTS" WITHIN THE MEANING OF THE
UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995. THIS INFORMATION AND THESE STATEMENTS, REFERRED TO HEREIN AS
"FORWARD-LOOKING STATEMENTS" ARE MADE AS OF THE DATE OF THIS
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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
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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
VARIATIONS IN THE MINERAL CONTENT WITHIN THE MATERIAL IDENTIFIED AS
MINERAL RESOURCES FROM THAT PREDICTED; VARIATIONS IN RATES OF
RECOVERY AND EXTRACTION; THE GEOTECHNICAL CHARACTERISTICS OF THE
ROCK MINED OR THROUGH WHICH INFRASTRUCTURE IS BUILT DIFFERING FROM
THAT PREDICTED, DEVELOPMENTS IN WORLD METALS MARKETS; RISKS
RELATING TO FLUCTUATIONS IN THE CANADIAN DOLLAR RELATIVE TO THE US
DOLLAR; INCREASES IN THE ESTIMATED CAPITAL AND OPERATING COSTS OR
UNANTICIPATED COSTS; DIFFICULTIES ATTRACTING THE NECESSARY WORK
FORCE; INCREASES IN FINANCING COSTS OR ADVERSE CHANGES TO THE TERMS
OF AVAILABLE FINANCING, IF ANY; TAX RATES OR ROYALTIES BEING
GREATER THAN ASSUMED; CHANGES IN DEVELOPMENT OR MINING PLANS DUE TO
CHANGES IN LOGISTICAL, TECHNICAL OR OTHER FACTORS; CHANGES IN
PROJECT PARAMETERS AS PLANS CONTINUE TO BE REFINED; RISKS RELATING
TO RECEIPT OF REGULATORY APPROVALS; DELAYS IN STAKEHOLDER
NEGOTIATIONS; CHANGES IN REGULATIONS APPLYING TO THE DEVELOPMENT,
OPERATION, AND CLOSURE OF MINING OPERATIONS FROM WHAT CURRENTLY
EXISTS; THE EFFECTS OF COMPETITION IN THE MARKETS IN WHICH ENCANTO
OPERATES; AND OPERATIONAL AND INFRASTRUCTURE RISKS. 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.