TORONTO, ONTARIO--(Marketwire - Feb. 22, 2012) - Organic Potash Corporation (CNSX:GOP) ("OPC" or the "Corporation") is pleased to announce the successful acquisition of its 10.45 acre factory site in Takoradi-Sedkondi, Ghana (the "Lands"). Through the assistance of Nana Nketsia, King of Takoradi-Sedkondi, the Corporation was granted the unique position of a ninety-nine (99) year lease. Ordinarily leases in Ghana are granted for fifty (50) years or less.
The process of land acquisition was evidence of the support of the people of Ghana for the Corporation and the Project. The price the Corporation paid for the lease was significantly below the fair market value of the lands and the King and sub Chiefs all indicated their intention to take the funds received for the lease arrangement and use same to purchase shares on the market in the Corporation.
The Corporation made the decision to locate in Takoradi because all existing infrastructure is in place which will facilitate operations, reduce construction time of the plant and provide the Corporation with significant cost savings.
The Lands are located within thirty (30) minutes from the Takoradi Port and are fully serviced with all major utilities. Frontage of almost 600' is located on a road, capable of servicing the largest of trucks and transports and feeds into the main highway system.
As a result of this acquisition the Corporation has completed a major milestone in the process of establishing its manufacturing facility in Ghana.
Mrs. Heather Welner, President and CEO stated: "A major milestone has been achieved today as securing this lease enables us to begin our next phase of development, which will focus on the pre-planning and development of the Corporation's processing plant. We're extremely honoured by the support the local government has given us, the duration of the lease and the location of the property. We're very happy and thankful to the King and the sub Chiefs for making this lease possible and we look forward to building a long lasting and strong partnership with all parties involved."
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.
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