Organic Potash Corporation Closes Second Tranche of its Convertible Debenture Financing
Organic Potash Corporation (CNSX: GOP) ("OPC" or the "Corporation") is pleased to announce that it has successfully closed the second tranche of its convertible debenture offering for gross proceeds of Three Hundred Thousand Dollars ("$300,000.00") CDN. In total, OPC has now successfully raised Five Hundred Seventy Thousand Dollars ("$570,000.00") CDN of the One Million Five Hundred Thousand Dollars ("$1,500,000.00") CDN Convertible Debenture offering.
The closing date of December 31, 2012 for the Convertible Debenture offering still remains, and the Corporation may continue to accept additional subscriptions up to Nine Hundred Thirty Thousand Dollars ("$930,000.00") CDN until on, or about, the closing date. The debenture proceeds shall be used to enhance the Corporation's K2 prototype processing plant, and for general corporate purposes.
Mrs. Heather Welner, President and CEO stated: "Despite the extremely difficult global market conditions which have made financing very challenging for the majority of junior companies, OPC's business model continues to impress investors and I'm pleased with the show of support by our current and new stakeholders."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State or Province in which such offer, solicitation or sale would be unlawful.
About Organic Potash Corporation
Through its proprietary patented technology, Organic Potash Corporation produces 99%+ pure potassium carbonate (potash) from the ash of agricultural waste, in particular, cocoa husks. The purity of the company's potassium carbonate will allow Organic Potash Corporation to target multiple industries including the Agricultural and Pharmaceutical industry. Organic Potash Corporation is headquartered in Toronto, Ontario and its shares trade on the Canadian National Stock Exchange under the trading symbol "GOP". For further information, please visit the company website at www.organicpotash.com.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither CNSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Organic Potash Corporation Mrs. Heather Welner President and CEO (905) 452-8060