Toronto-based fertilizer producer, Potash Ridge Corp., has signed a non-binding Letter of Intent (LOI) with Canada Coal Inc. which will enable the purchase, joint venture or any other form of transaction that may be mutually acceptable to both parties for the assets of Valleyfield Fertilizer Corp in Quebec.
The LOI contains no proposed terms or compensation for any potential transaction between the two parties. The LOI allows for a 90-day period of exclusivity, which will allow both parties to exchange information and maintain confidentiality as each party seeks to determine whether mutually beneficial business opportunities may exist.