Organic Potash Corporation
CNSX : OPC

Organic Potash Corporation

November 24, 2015 08:54 ET

New License Agreement and Resignation of Chief Financial Officer

TORONTO, ONTARIO--(Marketwired - Nov. 24, 2015) - Organic Potash Corporation ("OPC" or the "Corporation") (CSE:OPC) wishes to announce having successfully negotiated a sub-licensing agreement (the "Agreement") with a group from the Ivory Coast, granting exclusive use of the patented process in the Ivory Coast for a period mirroring the main license. The transaction represents the fulfilment of OPC's new strategic initiative of entering into joint ventures with local entities and individuals who have the appropriate skill sets and experience to ensure operational efficiency. The Agreement provides for OPC to be a 50% joint venture partner in both the license and operating corporations and providing intellectual and remote management support. As part of the joint venture, the joint venture partners are responsible to raise a minimum of $2,000,000 USD for the local operating corporation for the construction and operation of a 25 tonne/day production facility. In addition to signing the joint venture, the joint venture partners in the Ivory Coast are subscribing, directly from treasury for $175,000 USD shares of OPC at $0.06/share with the first $100,000 USD having been received.

The President of the joint venture partner in the Ivory Coast is Mr.Karl Akueson, a natural resources entrepreneur focused on agriculture and mining ventures in West Africa. Mr. Akueson's career started as an investment banker with BMO Capital Markets in London. He holds a Master in Chemical Engineering from the University of Manchester and a Master in Metals and Energy Finance from the Royal School of Mines (Imperial College London). Mr. Akueson has known the management of OPC for several years and kept current with the development of the Company's Ghanaian project. As a sign of his strong support for the project and from his base in Abidjan, Mr. Akueson will progress the natural expansion of OPC's business in Ivory Coast.

The Board wishes to announce that it has accepted the resignation of Jonathan Held as CFO. The Board of Directors would like to express its appreciation of Mr. Held's contributions to the affairs of Organic Potash Corporation, and wish him the best of luck in his future endeavors. The Company is actively searching out a new CFO and the position will remain unfilled until a suitable candidate has been found.

Mrs. Heather Welner, President CEO stated: "This relationship provides OPC with an unparalleled opportunity for growth. The Ivory Coast, together with Ghana, produce the largest volume of cocoa world-wide. OPC looks forward to the success of our joint venture relationships and to moving to the next level and in so doing enhancing shareholder value."

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 Securities Exchange under the trading symbol "OPC". For further information, please visit the company website at www.organicpotash.com.

Forward-Looking Statements

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 Company 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 Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Contact Information