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Encanto Potash Corp. files project information

Published by
World Fertilizer,

Encanto Potash Corp. has announced that it has filed the requested project information in advance of its application for supplemental funding across various government departments led by Indigenous and Northern Affairs Canada (INAC) – a federal government department responsible for meeting the Government of Canada's obligations and commitments to First Nations.

The information included upcoming steps of the feasibility study, as well as the projected economic impact for Muskowekwan First Nations, the province of Saskatchewan, and the Canadian federal government. The information also consisted of a detailed cost forecast and schedules of engineering works planned for this year. Over the next few weeks, Encanto claims that it will work with INAC to present specific project elements for funding to the appropriate federal, provincial, and regional departments.

Working with Global Emerging Markets (GEM), the pricing and subscription period regarding the draw-down under the Share Subscription Facility Agreement (SSF) with GEM, as previously announced on 20 September 2017, has commenced and that GEM has provided Encanto a draw-down advance. The draw down will provide Encanto Potash with the necessary funds for the continuing operations, feasibility study, and front-end engineering and design (FEED) work of 2018. GEM and Encanto continue their collaboration on Encanto's financial strategy, including the sourcing of new capital partners for Encanto Potash.

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