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Ethiopian Potash Updates Agreements on Danakil Property

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Ethiopian Potash Corp. (FED.V) announced that the parties to the memorandum of understanding described in EPC's press release dated January 30, 2013 have agreed to further extend the deadline for the execution of the agreements contemplated therein to April 19, 2013.

In January, EPC announced that it has entered into an MOU which contemplates the early exercise of its option to acquire G and B Central African Resources Ltd., which owns the Dankil Property, and the forming of a joint venture between EPC and Danakil Potash Corporation regarding the Danakil Property.

Progress has been made in the negotiation of the definitive agreements, EPC said. However, given the complex nature of the transactions contemplated by the MOU, a brief extension is required.

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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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