RE:Allana partners with Potash major...So Ferti...allana has achived what many other juniors could not do.....Hmmmm...
Vancouver, June 20th, 2013 – Western Potash Corp. (“Western” or the “Company”) is pleased to confirm that the previously announced strategic investment by China BlueChemical Ltd., (“China Blue”) and Benewood Holdings Corporation (“Benewood”), through a joint venture company, CBC (Canada) Holding Corp. (“CBCHC”), has been completed (the “Transaction”). Western has issued to CBCHC approximately 45 million common shares at a price of $0.71 for proceeds of C$ 31,979,022, which represents a 19.9% ownership stake in the Company on a non-diluted basis. China Blue is a majority owned subsidiary of China National Offshore Oil Corporation (“CNOOC”) and Benewood is a wholly owned subsidiary of GUOXIN International Investment Corporation Limited (“GUOXIN”), a financial investment company registered in Hong Kong.
TORONTO, ONTARIO, March 30, 2012 /CNW/ - IC Potash Corp. (“ICP” or the “Company”) (TSX: ICP; OTCQX: ICPTF) is pleased to announce that Yara International ASA (“Yara”), through a wholly owned subsidiary, has agreed to make a strategic investment of approximately C$40 million in ICP at a price of $1.32 per common share and has entered into a committed off-take agreement for the purchase of 30% of all products produced by ICP’s Ochoa project in New Mexico for a period of 15 years. ICP and Yara have also agreed to discuss the possibility of establishing a jointly held entity for the purpose of marketing products produced by the Ochoa project.
Mr. Sidney Himmel, President and CEO of ICP, comments, “Yara and ICP share a strategic focus on premium products and adding value in the fertilizer supply chain. As one of the world’s largest distributors of plant nutrients, Yara is the ideal partner for ICP’s project development and product marketing strategies. This partnership is transformational for ICP and provides the Company with a significant injection of capital and a buyer for 30% of the annual production by the Ochoa project. We look forward to working with Yara in further developing the distribution channels for our premium potash products.”
Mr. Jørgen Ole Haslestad, President and CEO of Yara, comments: “This investment fits well with our strategy. Through the ownership in ICP, Yara gets an upstream exposure on potash which reduces and mitigates the financial impact of being structurally short on the nutrient. Furthermore, the partnership with ICP aligns our respective strategies to develop and distribute premium fertilizer products, where Yara already has a leading position globally with its nitrates and nitrate-based NPK portfolio.”
Strategic Investment Terms
In connection with the strategic investment, ICP will issue to Yara 30,129,870 common shares at a price of $1.32 per common share for total gross proceeds of C$39,771,428. After giving effect to the transaction, this will result in Yara owning 19.9% of the issued and outstanding common shares of ICP on a non-diluted basis. The issue price represents a 41% premium over the 20 day volume weighted average price of ICP’s common shares traded on the Toronto Stock Exchange as of the closing on March 30, 2012. The investment has been conducted as a non-brokered private placement.
() Monday announced that the Saskatchewan Ministry of Environment (MOE) has approved the Environmental Impact Statement (EIS) for its Wynyard Carnallite potash project.
The company said it will now focus on getting the required permitting to begin construction while continuing “detailed engineering activities” and finalizing site preparation.
It also plans to secure funding at the same time.
Last month, Gujarat State Fertilizers & Chemicals (GSFC) (NSE:GSFC) agreed to make a strategic investment of about $45 million in Karnalyte and committed to an off-take agreement for the sale and purchase of around 350,000 tonnes per year of potash from phase 1 of the project, increasing to 600,000 tonnes per year with the start up of phase 2.