PP AnnouncedENCANTO POTASH CORP. ANNOUNCES 11,150,000 UNIT PRIVATE PLACEMENT TO RAISE UP TO $2,007,000
VANCOUVER, Oct 5 /CNW/ - Encanto Potash Corp. ("Encanto") is pleased toannounce that it is proceeding with a non-brokered private placement ofup to 11,150,000 units at
.18 per unit to raise gross proceeds of upto $2,007,000, each unit consisting of one share and one half of onewarrant, with each full warrant entitling the holder to buy one sharefor
.25 exercisable for a period of two years from closing. A 5% cashfinder's fee will be payable. The net proceeds will be used to financean economic preliminary assessment of the Muskowekwan Property based onexploration results to date and to provide the Company with workingcapital. The placement is subject to Exchange approval.
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange-listed Canadian resourcecompany engaged in the exploration and development of potash propertiesin the Province of Saskatchewan, Canada, the largest producing regionfor potash in the world.
For additional about Encanto Potash Corp., please visit the companywebsite at www.encantopotash.comor review the documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Walchuck"