Mr. Bill Xue reports
WESTERN POTASH CORP. ANNOUNCES CLOSING OF CAD$10 MILLION EXCHANGEABLE DEBENTURE
Western Potash Corp., Western Resources Corp.'s 100-per-cent-owned subsidiary, received the second tranche of finances in the amount of $5-million from Vantage Chance Ltd. The transaction, set out in the company's news release of Aug. 15, 2023, has now closed.
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 to be issued by Western Potash upon receipt of the full amount. Western Potash received the first tranche payment of $5-million in September, 2023. This $5-million payment is the second and final payment required to be made by Vantage to Western Potash under the terms of the exchangeable debenture.
The Company will file the exchangeable debenture under the company's profile on SEDAR+.
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