Encanto Announces Appointment of New Director and Stock Option Grant
May 07, 2015
Encanto Potash Corp. (“Encanto” or the “Company”) (TSXV: EPO and OTCQX: ENCTF) is pleased to announce that Stavros Daskos has been appointed to the Company’s Board of Directors. Stavros Daskos, a lawyer by training, is the President of WDH LTD., a Government contractor specializing in infrastructure and national security projects. Stavros has extensive experience in high level Government and finance contacts both domestically and internationally as a result of his company’s dealings.
Pursuant to the Company’s Stock Option Plan, an aggregate 2,320,000 incentive stock options have been granted to directors, officers, employees and consultants at a price of $0.17 per share, exercisable for a period of 10 years, subject to TSX-V approval.
Encanto Potash Corp. is a TSX Venture Exchange listed Canadian resource company engaged in the development of potash properties in the Province of Saskatchewan, Canada, the largest producing potash region in the world. Through a joint venture agreement with Muskowekwan Resources Ltd. (“MFN JV”) on our flagship property, Encanto has a project land package which totals approximately 61,000 largely contiguous acres. A Pre-Feasibility Study dated February 28 2013 titled “Encanto Potash Corp. Technical Report Summarizing the Preliminary Feasibility Study for the Muskowekwan First Nations Home Reserve Project in South Eastern Saskatchewan, Canada” confirms the Proven & Probable KCI Reserves totaling 162 MMt grading 28% which supports primary and secondary mining for over 50 years at an assumed annual rate extraction rate of 2.8 million tonnes.
The Company has an interest in two additional potash properties in Saskatchewan: 20% interest in the 55,000 acre Ochapowace/Chacachas property and 100% interest in the 55,437 acre Spar property.
Encanto is currently exploring domestic & international strategic partnerships for the financing, development and sale of potash production from its MFN JV Property.
The technical content of this news release has been reviewed by James Walchuck, a qualified person as defined by NI 43-101.
For additional information about Encanto Potash Corp., please visit the Company’s website at www.encantopotash.com or review the Company’s documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: “James Walchuk”
President and CEO
For further information please contact:
President and CEO
Martin Gagel CFA, MBA
Vanguard Shareholder Solutions
Toll Free: 1-866-918-0824