Western Potash Corp.

Western Potash Corp.

June 03, 2015 14:26 ET

Western Potash Corp. Responds to UBS Lawsuit

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 3, 2015) - Western Potash Corp. (TSX:WPX)(FRANKFURT:AHE) (the "Company") - confirms that UBS Securities Canada Inc. ("UBS") has filed a lawsuit against the Company before the Ontario Superior Court of Justice claiming fees, disbursements and damages in connection with a strategic investment in the Company by China BlueChemical Ltd., and GUOXIN International Investment Corporation Limited, through a wholly owned subsidiary, CBC (Canada) Holding Corp., which closed in June 2013.

The Company believes that UBS' lawsuit is unfounded and entirely without merit, and intends to vigorously defend itself against the lawsuit.

About Western Potash

Western Potash Corp. is a development stage potash company focused on building Canada's most efficient potash solution mine. The Company intends to develop a world-class potash deposit in an ecologically sustainable, economically efficient and socially responsible manner. A positive Feasibility Study for the Milestone Project was completed in December 2012, demonstrating robust project metrics.


J. Patricio Varas

President and CEO

Cautions Regarding Forward-Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to management's belief regarding the lawsuit and any outcome of the lawsuit. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

Contact Information

  • Western Potash Corp.
    David Thornley-Hall
    Executive Vice-President, Corporate