Western Potash Corp. - Units Private Placement Transaction
Western Potash Corp. (WPX: TSX) (FSE: AHE) ('the Company?)announces that the Company has negotiated a $15,000,000 non-brokered
private placement to sell up to 31,250,000 units (the 'Units?) at a
price of $0.48 per Unit. There is a 6% cash finder′s fee payable on the
private placement.
Each Unit will consist of one common share (a 'Share?) and one share
purchase warrant (the 'Warrant?). The Warrant can be exercised to
purchase one additional common share (a 'Warrant Share?) at a price of
$0.58 per share within 36 months of closing of the private placement.
In accordance with securities legislation currently in effect, the
Shares, the Warrants and the Warrant Shares will be subject to a 'hold
period? of four months plus one day from the date of issuance of the
aforesaid securities.
The proceeds of the private placement transaction will be used for the
completion of the Feasibility Study, environmental and permitting
expenditures, as well as, general working capital.
For more information on Western Potash Corp.′s projects, please visit
the Company′s website at: www.westernpotash.com
ON BEHALF OF THE BOARD OF DIRECTORS
'J. Patricio Varas?
J. Patricio Varas
President and CEO
Cautions Regarding Forward-Looking Statements
Western Potash cautions the reader that there is no guarantee that any
of the matters set out above, including the EIS, are in full compliance
with the requirements of the MOE, will completely meet their expected
uses, or be accepted by the MOE for its purposes or meet all of its
requirements. Except for statements of historical fact relating to
Western Potash, certain information contained herein constitutes
'forward-looking information? under Canadian securities legislation.
Forward-looking information includes, but is not limited to, statements
with respect to the EIS and the Milestone Feasibility Study, timelines
for completion of various steps related to the foregoing; and the
ability of Western Potash to develop the Milestone Project. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as 'intends? or 'anticipates?, or
variations of such words and phrases or statements that certain actions,
events or results 'may?, 'could?, 'should?, 'would? or 'occur?.
Forward-looking statements are based on the opinions and estimates of
management as of the date such statements are made and they are subject
to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements
of Western Potash to be materially different from those expressed or
implied by such forward-looking statements or forward-looking
information, including: the receipt of all necessary approvals; the
ability to conclude a transaction; uncertainty of future production,
capital expenditures and other costs; financing and additional capital
requirements; the receipt in a timely fashion of any further permitting
for the Milestone Project; legislative, political, social or economic
developments in the jurisdictions in which Western Potash carries on
business; operating or technical difficulties in connection with mining
or development activities; and the risks normally involved in the
exploration, development and mining business. Although management of
Western Potash has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements or forward-looking information, 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 and forward
looking information. Western Potash does not undertake to update any
forward-looking statements or forward-looking information that are
incorporated by reference herein, except in accordance with applicable
securities laws.
Western Potash Corp.
John Costigan, 604-689-9378
VP
Corporate Development