Encanto Potash Corp Secures $7.5 Million Operating Line of Credit From National Bank of Canada
VANCOUVER, Aug. 9, 2019 – 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
For further information: Stavros Daskos, Tel: (514) 826-6662