Mr. Bill Xue reports
WESTERN POTASH CORP. RECEIVES CAD$5 MILLION INVESTMENT FROM VANTAGE CHANCE LIMITED
Western Potash Corp., Western Resources Corp.'s 100-per-cent-owned subsidiary, received today funds in the amount of $5-million from Vantage Chance Ltd., in accordance with the terms of the transaction detailed in the company's news release dated Aug. 15, 2023.
On Aug. 15, 2023, Western Potash signed an exchangeable debenture subscription agreement with Vantage, pursuant to which Vantage agreed to subscribe for a $10-million exchangeable debenture issued by Western Potash. The $5-million payment is part of the total payment, in the amount of $10-million, required to be made by Vantage to Western Potash under the terms of the exchangeable debenture.
The transaction is expected to close upon receipt by Western Potash in October, 2023, of the remaining balance of $5-million, after which Western Potash will issue and file the exchangeable debenture certificate and other material documents relating to the transaction under the company's profile on SEDAR.
We seek Safe Harbor.
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