About Sino-Canada Natural Resources Fund: Sino-Canada Natural Resources Fund is a Cayman Islands registered private equity fund focused on investments in Canadian listed and private companies that develop and operate natural resources projects (mining, oil & gas, forestry) worldwide. Sino-Canada Fund is managed in Hong Kong on behalf of private and institutional investors from China. Pacific Potash Closes $1,250,000 First Tranche of its $2,250,000 Financing and Announces Shareholder Special Meeting May 31, 2013 Posted on April 24, 2013 by Asher Berube April 24, 2013 (Source: The Newswire) — Pacific Potash Corporation (TSX-V: PP; OTCQX: PPOTF; FSE: P9P, “Pacific Potash” “the Company”) is pleased to announce that the Company has received TSX conditional approval for its previously announced $2.25 million placement and has closed the first tranche consisting of 15,625,000 units for gross proceeds of $1,250,000 The second tranche of the financing involves a subscription for 12,500,000 units ($1,000,000) by Sino-Canada Natural Resources Fund I (“Sino-Canada Fund”). Upon closing of its subscription, Sino-Canada Fund will hold approximately 18.1% of the outstanding shares of Pacific Potash, on an undiluted basis. Pursuant to TSXV policies, the change of control resulting from Sino-Canada Fund’s subscription is subject to shareholder approval. The Company has set a shareholder meeting date for May 31, 2013 in order to receive approval for the change of control. In addition, upon closing, Sino-Canada Fund will have the right to appoint a nominee to be Co-Chairman and a Director of Pacific Potash Corp. Sino-Canada Fund, which plans to invest over $500 million in the coming two years in Canadian listed and private companies that develop and operate natural resources projects worldwide, released the following statement to Pacific Potash, “We are excited about our investment in Pacific Potash. Sino-Canada Fund prides itself in being a long term investor in resource based projects and we look forward to being a cornerstone investor in Pacific Potash through all phases of development of their Brazilian potash project.” “We are pleased to announce the first closing of the financing and look forward to welcoming Sino- Canada Natural Resources Fund as the new control entity, pending shareholder approval. We feel that Sino-Canada Fund and their nominee to the Board of Directors will bring significant experience and a solid partnership that will benefit Pacific Potash shareholders.” stated Executive Chairman and Director, Balbir Johal. In compliance with Canadian Securities law, all securities issued in connection with the first closing of the private placement are subject to a hold period that will expire on August 23, 2013.
https://www.proedgewire.com/potash-phosphate-news/pacific-potash-closes-1250000-first-tranche-of-its-2250000-financing-and-announces-shareholder-special-meeting-may-31-2013/
Pacific Potash Corp. has negotiated new terms to its previously announced option and joint venture agreement, dated May 16, 2012, with Western Potash Corp. for the Amazonas basin potash claims.
https://aheadoftheherd.com/Advertising/Sponsor_Page/WesternPotash/