Prosperity Saskatchewan

Encanto Potash secures commitment for C$100 mln funding facility​

SEPTEMBER 20, 2017 / 7:21 AM / UPDATED 35 MINUTES AGO

BRIEF-Encanto Potash secures commitment for C$100 mln funding facility​

Reuters Staff

Sept 20 (Reuters) – Encanto Potash Corp :

* Has secured a commitment for a CAD $100 million funding facility​

* Under funding agreement GEM Investments America, LLC and GEM Global Yield LLC SCS undertake to invest up to CAD $100 million over next 3 years​

* Proceeds will be used to commence engineering, design phase of mine in anticipation of a shovel-ready construction date of Sept 2019​

* Upon a drawdown notice issued from company shares will be issued at a price 90% of market price subject to a $.05 per share minimum​ Source text for Eikon: Further company coverage: