Pacific Potash Provides Financing Update and Receives Seismic Data Approval
Pacific Potash Corporation (TSX-V: PP / OTCQX: PPOTF / FSE: P9P) (“Pacific Potash”, “the Company”) is pleased to announce that since April 24th 2013 the Company has raised $6.35 million from 3 separate equity raises. Pacific Potash is now well capitalized for it’s upcoming exploration and drill program. In addition to the equity raises the Company has recruited a cornerstone investment partner (Sino-Canada Natural Resources Fund) and signed an MOU for a potash off-take agreement with CapitalAsia Investment Holdings Group.
Pacific Potash has also been notified by the ANP (National Petroleum Agency of Brazil) that the remaining seismic line data that Pacific Potash had previously applied for has been approved for purchase and pick-up. This remaining un-processed seismic data in conjunction with the Companies current data set will be used to strengthen the Company’s current geological model and to confirm the final drill target locations for the Company’s upcoming exploration campaign. On completion of data integration the Company will put forth an updated exploration program and budget for the remainder of the year.
About Pacific Potash Corporation
Pacific Potash Corporation trades on the TSX Venture Exchange under the symbol: PP, as well on the OTCQX under the symbol: PPOTF and on the Frankfurt Stock Exchange under P9P. Pacific Potash is engaged in the exploration and development of the Amazonas Basin Project and the surrounding potash claims targeting the Middle Amazonas Potash Basin, currently the host to multiple new exploration campaigns for potash. The Company also is exploring the Provost Potash Property and the surrounding potash claims targeting the prolific Prairie Evaporite Formation, which is host to multiple conventional and solution potash mines.
We seek Safe Harbour.
On behalf of the Board,
Pacific Potash Corporation
Balbir Johal, LL.B
Executive Co-Chairman & Director
For further information, please visit our website at or contact our V.P of Corporate Communications, Mike Blady:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Pacific Potash in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Pacific Potash’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Pacific Potash disclaims any obligation to update or revise any forward-looking information or statements except as may be required.