CALGARY, ALBERTA--(Marketwired - March 27, 2014) - Americas Petrogas Inc. (TSX VENTURE:BOE) and its subsidiary, GrowMax Agri Corp., (collectively, "Americas Petrogas" or the "Company") are pleased to announce that the Board of Directors of the Agency for Promotion of Private Investment of the government of Peru ("ProInversion") has authorized the Peruvian state-owned company Activos Mineros S.A.C. and the Executive Director of ProInversion to execute the transfer agreement granting the Bayovar mineral concessions to Americas Petrogas' Peruvian subsidiary.
The Bayovar Concessions, located in the Sechura area, Piura province, Peru, include blocks number 5, 6, 7 and 8, and cover approximately 82,000 hectares (202,600 acres) with potential for production of carnallite, potassium chloride (KCl), phosphates and other minerals.
Barclay Hambrook, President and CEO, said, "We are now in a position to advance our plans for a fertilizer project in Bayovar." Mr. Hambrook went on to say, "We can now also intensify and expand the exploration for phosphate resources as well as other minerals."
About Americas Petrogas Inc.
Americas Petrogas Inc. is a Canadian company whose shares trade on the TSX Venture Exchange under the symbol "BOE". Americas Petrogas has conventional and unconventional shale oil and gas and tight sands oil and gas interests in numerous blocks in the Neuquén Basin of Argentina. Americas Petrogas has joint venture partners, including ExxonMobil and Apache, on various blocks in the shale oil and gas corridor in the Neuquén Basin, Argentina. Americas Petrogas also owns an 80% interest in GrowMax Agri Corp., a private company involved in the exploration for near-surface potash, phosphates and other minerals, and potential development of a fertilizer project in Peru. Indian Farmers Fertiliser Co-operative Limited (IFFCO) owns a 20% interest in GrowMax Agri Corp. For more information about Americas Petrogas Inc., please visit www.americaspetrogas.com.
Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements". These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
In particular, statements (express or implied) contained herein regarding the potential development of a fertilizer project and the potential for carnallite, KCl, phosphates or other minerals should all be viewed as forward-looking statements.
There can be no assurance that such forward-looking statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
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