Encanto Potash is a Potash
exploration company

2016 News Archive

Encanto Potash Corp. announces new CEO

Encanto Potash Corp. is pleased to announce that Stavros Daskos has been appointed as Chief Executive Officer, in addition to his role as President and a director of the Corporation. The Board of Directors has accepted the resignation of Norman Brewster and would like to thank him for his contribution and wish him success in his future endeavours.

Encanto Potash Corp. announces closing of $1,750,000 private placement

Encanto Potash Corp. is pleased to announce it has closed a non-brokered private placement of 20,588,235 flow-through shares (the “Offering”) at a price of $0.085 per share for gross proceeds of $1,750,000. The flow-through shares are subject to a hold period expiring March 1, 2017. Finder’s fees of $105,000 to Secutor Capital Management Corp. were paid in connection with the Offering. Proceeds will be used towards the continued exploration and development of Encanto’s Muskowekwan property in Saskatchewan.

Encanto Announces New Board and CEO Appointments

Encanto Potash Corp. is pleased to announced the appointment to its Board of Directors of Messrs. Norman Brewster, Noureddine Mokaddem, Martin Wong, David Franklin, Maurice Stekel, Chief Reg Bellerose and Joe Varner, effective August 11, 2016. In addition Mr. Brewster has been appointed as Chief Executive Officer of the Company, Chief Bellerose has been appointed First Nations Special Counsel . In conjunction with these appointments the Company will be relocating its head office to Toronto, Ontario. The Company has accepted the resignations of Messrs. Robert McMorran, John Reynolds, Jamie Schwitzer, Brian Thurston and Jim Walchuck. Mr. Walchuck has agreed to continue as an Advisor to the Company. The Company would like to take this opportunity to thank Mr. Walchuck for his tireless efforts in advancing the project to this stage and would like to thank the resigning directors for their many years of contributions and wish them success in their future ventures.

Encanto announces additional closing of private placement

Encanto Potash Corp. is pleased to announce that further to the closing of its private placement announced June 3, 2016, it has closed an additional 342,000 units ("Units") at a price of $0.105 per Unit for additional gross proceeds of $35,910. Each Unit consists of one common share and one warrant, each warrant entitling the holder to purchase one common share at a price of $0.16 per share on or before January 13, 2019. The proceeds from the private placement will be used for working capital. The shares and warrants comprising the Units are subject to a hold period expiring November 14, 2016.

Encanto announces issuance of shares in settlement of liabilities

Encanto Potash Corp. is pleased to announce that it has settled liabilities in the aggregate amount of $294,654 which arose from the failure to incur qualifying expenses in connection with a previous issuance of flow-through shares by the issuance of an aggregate of 2,806,230 common shares at a price of $0.105 per share. The shares are subject to a hold period expiring October 25, 2016.

Encanto announces completion of supplemental groundwater investigation

Encanto Potash Corp. is pleased to announce the completion of a supplemental groundwater investigation as part of the Environmental Impact Assessment (EIA).  A four-hole program was carried on their flagship Muskowekwan First Nation (MFN) property. SNC-Lavalin Inc. was awarded the contract to run the program to gain a better understanding of the subsurface groundwater conditions in the area. The program serves a dual purpose contributing to the EIA as well as the Feasibility Study.

Encanto announces closing of private placement for gross proceeds of $3,072,815

Encanto Potash Corp. is pleased to announce that, further to its news release of May 16, 2016, it has closed its private placement of non-flow-through units ("Units") and flow-through shares. A total of 24,503,000 Units were issued at a price of $0.105 per Unit for gross proceeds of $2,572,815. Each Unit consists of one common share and one warrant, each warrant entitling the holder to purchase one common share at a price of $0.16 per share on or before December 3, 2018. Additionally, a total of 3,125,000 flow-through common shares were issued at a price of $0.16 per share for gross proceeds of $500,000. Finders' fees of $25,210 were paid in connection with the private placement.

Encanto Announces Non-Brokered Private Placement Financings of up to $2.7 Million

Encanto Potash Corp. is pleased to announce a nonbrokered private placement consisting of a non flow through and flow through financing, of up to $2,700,000 (the "Private Placements"). The non flow through Private Placement of up to $2,200,000 will consist of up to 20.95 million units (the "Units") at a price of $0.105 per Unit. Each Unit will consist of one common share of the Company and one common share purchase warrant, with each warrant entitling the holder to purchase one common share of the Company at a price of $0.16 per share for a period of 30 months after closing. The flow through Private Placement of $500,000 will consist of 3,125,000 shares (the "Shares") at a price of $0.16 per Share. Proceeds from the Private Placements will be used towards general working capital and development of Encanto’s Muskowekwan property in Saskatchewan. Finder’s fees on the gross proceeds of the offering may be paid.

Encanto Secures Existing Potash Producer Interest in Supplying Potash for MMTC Contract

Encanto Potash Corp. is pleased to announce that they have now secured written interest from an existing potash producer to supply potash to a trading company currently being formed, a key step in its plan to become a supplier of potash to Metals and Minerals Trading Company of India (MMTC) http://mmtclimited.gov.in.

Encanto Announces Extension of Share Purchase Warrants

Encanto Potash Corp. announces that it has extended the expiry dates of some of its share purchase warrants. The Company’s 18,427,500 warrants set to expire on May 4, 2016 exercisable at $0.17, have been extended by two years having a new expiry date of May 4, 2018. In addition, the 5,585,000 warrants with current expiry dates of October 9, 2016 and October 23, 2016 both exercisable at $0.30, have been extended by one year to have new expiry dates of October 9, 2017 and October 23, 2017. No other terms of these share purchase warrants have been changed and the extensions are subject to TSXV approval.

Encanto Announces Expanded Memorandum of Understanding for a Potash Off-Take Agreement with Government of India's Largest International Trading Company along with Worldwide Distribution Rights.

Encanto Potash Corp. is pleased to announce that they have finalized important terms for their Memorandum of Understanding ("MOU") with Metals and Minerals Trading Company of India (MMTC) http://mmtclimited.gov.in, for a substantial off-take agreement.

Encanto Potash Corp. Announces Replacement of Expired Convertible Debenture

Encanto Potash Corp. announces that, further to its news release of March 14, 2016, It has now received approval of the TSX Venture Exchange for the issuance of its March 1, 2016 convertible debentures in the aggregate principal amount of $7.7 million. The March 1, 2016 convertible debentures are being issued in replacement of previously outstanding convertible debentures in the aggregate principal amount of $7 million plus accrued interest of $0.7 million which matured on January 14, 2016.

Encanto Potash Corp. Announces Replacement of Expired Convertible Debenture

Encanto Potash Corp. announces that it has replaced its expired convertible debenture dated January 14, 2016 with a new convertible debenture pending TSXV Approval.