Ms. Angela Aydon reports

WESTERN POTASH CORP. RECEIVES STRATEGIC INVESTMENT FROM BEIJING TAIRUI INNOVATION CAPITAL MANAGEMENT LTD.

Beijing Tairui Innovation Capital Management Ltd. has agreed to make a strategic equity investment of $80-million in Western Potash Corp. at a price of 32.13 cents per common share of Western Potash for a total of 248,989,860 common shares in the capital of Western Potash, subject to adjustment, which will result in Tairui holding a 51-per-cent ownership stake in the company on a non-diluted basis on closing of the transaction. The per-share issue price of 32.13 cents represents a 46-per-cent premium over the company's volume-weighted average price on the Toronto Stock Exchange for the 30 trading days ended July 3, 2015.

Under the terms of the investment agreement between Western Potash and Tairui, Tairui will have the right to appoint four nominees to the board of directors of the company. In addition, the investment agreement provides that the number of common shares issuable to Tairui and the per-share issue price of 32.13 cents based on 248,989,860 common shares are subject to adjustment in certain circumstances, where additional common shares may be issued on or prior to closing, such that Tairui will, in all such circumstances, hold a 51-per-cent ownership stake in the company on a non-diluted basis on closing.

The adjustment provisions include adjustments in the event that CBC (Canada) Holding Corp. (CBCHC) elects to exercise, in whole or in part, and within the prescribed time limit, its pre-emptive right to maintain up to a 19.9-per-cent share position in Western Potash, pursuant to the subscription agreement between CBCHC and the company dated June 1, 2013.

Closing of the private placement is subject to customary closing conditions including the approval of the Toronto Stock Exchange and the approval of the transaction by Western Potash shareholders. It is anticipated that closing will take place on or about Aug. 31, 2015. Proceeds from the investment amount will be used for the development of the pilot-plant-scale selective solution mining operation, in accordance with the previously announced positive scoping study on the company's 100-per-cent-owned Milestone property in Southern Saskatchewan.

About Beijing Tairui Innovation Capital Management Ltd.

Beijing Tairui Innovation Capital Management is a China-based private equity investment company with a focus on the energy and mining industries. The management team has extensive experience in project management and investment management in the natural resource sector.

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