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Encanto Potash Closes $7M Convertible Debenture

Encanto Potash Corp. (EPO.V) announced the completion of an aggregate $7 million principal amount 5% secured convertible debentures. The principal amount of the debentures are convertible in whole or in part at the option of the subscribers into common shares of the Company at a price of $0.25 per common share until January 14, 2015.

The company intends to use the proceeds to complete the Pre-Feasibility Study on the Muskowekwan First Nation property in January 2013, initiate a Bankable Feasibility Study and provide general working capital.

EPO shares edged up 1.5 cents to $0.29 on volume of more than 888,000.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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