TORONTO, ONTARIO--(Marketwired - March 17, 2016) - Organic Potash Corporation (CSE:OPC) ("OPC" or the "Corporation") wishes to announce that further to our press release of November 24, 2015 significant progress has been accomplished in the preparatory work to establish a production facility. The following has occurred:
- a feasibility report produced by Deloitte Cote d'Ivoire, Abidjan, confirmed the viability and potential profitability of the facility in Cote D'Ivoire;
- a 2 acre facility site has been identified, in the south-western major cocoa region of the country, in close proximity to a major port;
- it has been verified that there is a current in-country demand for potassium carbonate that is expected to be able to purchase all targeted production and there is currently no local producers in Cote D'Ivoire;
- supply chain contracts for at least 300,000 tonnes of cocoa husk are in negotiation and the core management team has been assembled.
In order to accommodate the progress of developments, OPC has agreed to a revised schedule of payment of the remaining $75,000 USD share purchase, at $25,000 USD per month over three months, starting on March 31, 2016.
Mrs. Heather Welner, President CEO stated: We are quite pleased with the progress made and goals achieved in the Ivory Coast and look forward to the solidifying of funding and thereafter the commencement of construction of the plant facility.
About Organic Potash Corporation
Through its proprietary patented technology, Organic Potash Corporation produces 99%+ pure potassium carbonate (potash) from the ash of agricultural waste, in particular, cocoa husks. The purity of the company's potassium carbonate will allow Organic Potash Corporation to target multiple industries including the Agricultural and Pharmaceutical industry. Organic Potash Corporation is headquartered in Toronto, Ontario and its shares trade on the Canadian Securities Exchange under the trading symbol "OPC". For further information, please visit the company website at www.organicpotash.com.
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.