VANCOUVER, Oct. 26, 2017 /CNW/ - American Potash Corporation (the "Company") (AMP:CSE) is pleased to announce that it has signed a six month extension agreement with MGX Minerals Incorporated.
This extension is to allow time for our new partner, MGX Minerals Inc. to get oriented and to contribute MGX's vast experience in drilling to our joint project in the Paradox basin.
This extension applies to our joint venture option agreement dated April 3, 2017.
The extension agreement extends the funding requirement of the first well to March 31, 2018 and the second well to 12 months after September 30, 2018.
AMP also waives the requirement of the $250,000.00 U.S. deposit which was included in our April 3, 2017 agreement.
American Potash is pleased to be working with our new partners who bring extensive experience to our drilling plans.
On behalf of the Board of Directors
"Rudy de Jonge"
Rudy de Jonge, CEO
Neither the OTCQX nor the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and Canadian securities laws. Forward Looking Statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the Forward Looking Statements.
Key assumptions upon which the Company's forward-looking statements and information are based include: the price of potash will rise and not fall significantly; the Company's ability to secure new financing to continue its exploration and development activities; there being no significant changes in the ability of the Company to comply with environmental, safety and other regulatory requirements; the Company's ability to obtain regulatory approvals in a timely manner; and the Company's ability to achieve its growth strategy. These assumptions should be considered carefully by readers. Readers are further cautioned that the foregoing list of assumptions is not exhaustive. Although the Company believes that the assumptions on which the forward-looking statements or information are made are reasonable, based on the information available to the Company on the date such statements were made, no assurances can be given as to whether these assumptions will prove to be correct.
SOURCEAmerican Potash Corp.
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