Potash One fka KCL

[Tackler]

Potash One acquiring Saskatchewan exploration permits

2008-04-02 14:35 MT - Property Agreement

The TSX Venture Exchange has accepted for filing a purchase agreement dated March 26, 2008, between Potash One Inc. and Giant Potash Corporation, whereby the company will acquire three permits granting the right to explore and prospect for subsurface minerals in certain lands west of Regina, Sask., near its contingent Legacy potash project, and rights to applications for two additional permits in southeastern Saskatchewan.

Total consideration consists of $2,897,880 in cash payments and 1,408,000 shares of the company.

In addition, there is a finder's fee of $55,000 and 200,000 warrants exercisable for a period of two years at $4 per share payable to 0819806 B.C. Ltd. (Mani Chopra).