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Potash Ridge Corp
Symbol PRK
Shares Issued 81,653,778
Close 2015-01-23 C$ 0.14
Market Cap C$ 11,431,529
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Potash Ridge, Watco sign railway deal for Blawn Mtn

2015-01-26 17:24 ET - News Release

Mr. Guy Bentinck reports

POTASH RIDGE ENTERS INTO CONSTRUCTION AND SERVICE RAIL AGREEMENT WITH WATCO

Potash Ridge Corp. has signed a memorandum of understanding (MOU) with Watco Companies LLC for activities related to the build-own-operate (BOO) of a loading facility and short-line railway to service the Blawn Mountain project.

Under the terms of the MOU, Watco will undertake the development, financing and operation of a short-line railway connecting the project to the Union Pacific railway main line near Milford, Utah, and a loading facility for its sulphate of potash, sulphuric acid and alumina-rich material saleable products. Initial work contemplated under the MOU would begin after the commencement of a feasibility study, subject to successfully raising additional financing.

Guy Bentinck, president and chief executive officer, said: "We are very pleased to have entered into this arrangement with Watco for the development of a loading facility and associated short-line railroad for the project. This long-term partnership with Watco represents another important commercial step for the development of the project and will provide the corporation with access to the extensive U.S. rail distribution network. Watco's participation in BOO arrangements for infrastructure assets is another excellent endorsement of the project."

Mark Blazer, senior vice-president, strategic development, of Watco, added: "I am very proud of the Watco team for being chosen to participate in this project. We are very excited to go to work with our great partner, Potash Ridge Corporation, in the development of the Blawn Mountain project. We believe this project will be a complement to our existing operations in Utah and will help to build new relationships in the state."

About Watco

Watco Companies is a transportation company based in Pittsburg, Kan., providing mechanical, transportation, and terminal and port services solutions for customers throughout North America and Australia. Watco is the owner of Watco Transportation Services LLC, one of the largest short-line railway holding companies in the United States, with 31 short-line railways operating on more than 4,400 miles of track, as well as 28 industrial contract switching locations. Watco Companies is a 50/50 joint venture partner with the Greenbrier Companies Inc. in GBW Railcar Services LLC. GBW repairs and refurbishes freight cars at 38 locations across North America, including 14 tank car repair and maintenance facilities certified by the Association of American Railroads.

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