"We are pleased that in such a difficult funding environment for junior-mining resource companies, an experienced, fundamental investor was able to analyze one of our projects and understand its full potential and partner with us in such a constructive way," said Andrew Brodkey, CEO of First Potash Corp. "We are excited that we will be able to deploy capital to move one of our core projects forward towards the eventual goal of producing potash (for fertilizer) at Salar de Pedernales. Minex entities have been indirect investors in the Company before, and we are grateful that they are showing their support for the Company's change of focus to commercialize potash (for fertilizer) from our Chilean properties."
The Company also announces that its shareholders approved a new 20% fixed stock option plan at its Annual General Meeting held on November 30, 2012, which replaced the Company's previous 10% rolling plan. On December 13, 2012, the Company granted a total of 5,550,654 options to management and directors in two tranches, the first half at a strike price of $0.10, and the second half at a strike price of $0.15. Exercise of such stock options are conditional upon prior approval of the TSXV
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