Encanto to implement share consolidation
VANCOUVER, May 18, 2018 – Encanto Potash Corp. (“Encanto” or the “Company”) (TSXV: EPO) announces that it has received final approval from the TSX Venture Exchange for its ten (10) to one (1) share consolidation. Effective at the opening of trading on May 18, 2018, Encanto’s shares will commence trading on the TSX Venture Exchange on a consolidated basis.
Encanto’s shares will continue to trade under the symbol EPO. The new CUSIP number for the consolidated shares is 29251N302 and the new ISIN number is CA29251N3022. As a result of the ten (10) to one (1) share consolidation, Encanto now has 44,081,683 common shares issued and outstanding.
Shareholders who hold their shares through a securities’ broker or dealer, bank or trust company will not be required to take any measures with respect to the share consolidation. Encanto’s transfer agent, Computershare Investor Services Inc., will mail a letter of transmittal to all registered shareholders, who will be required to return their certificates representing pre-consolidated common shares and a completed letter of transmittal to Computershare. Any registered shareholder who submits a duly-completed letter of transmittal to Computershare along with pre-consolidated share certificates will receive in return a post-consolidated share certificate. Additional copies of the letter of transmittal can be obtained by contacting Computershare at 1-800-564-6253 or by e-mail at email@example.com.
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 further information: Gary Deathe, Corporate Development, Tel: (905) 510-3079