Western Potash Corp. Adopts a Shareholder Rights Plan Agreement
Vancouver, British Columbia -- Western Potash Corp. (the "Company") (TSX: WPX FSE: AHE) announces, that the Company has adopted a Shareholder Rights Plan Agreement (the "Agreement") dated March 26, 2012, with Computershare Trust Company of Canada for a term of three years. The Agreement has been accepted by the Toronto Stock Exchange and was ratified by the shareholders of the Company at the Company’s Annual and Special General Meeting held on March 26, 2012.
The objective of the Board of Directors in adopting this Plan is to achieve full and fair value for the Company’s shareholders in the event of an unsolicited take-over bid for the Company. The Plan is intended to give the Board of Directors and the shareholders of the Company a reasonable amount of time to fully consider a bid if one is made, and to protect the shareholders from unfair, abusive or coercive take-over strategies. By virtue of the Plan’s implementation, anyone seeking to obtain control of the Company will be encouraged to negotiate with the Board of Directors prior to attempting a take-over, or to proceed by way of a “Permitted Bid”. Further information, including a summary of the Plan, and the full Plan, can be found on SEDAR at www.sedar.com under the headings ‘Proxy Circular’ and ‘Other’. The Company is not aware of any pending or threatened take-over bid for the Company.
About Western Potash
Western Potash Corp. is a mineral exploration company engaged in the evaluation, exploration and development of potash mineral properties in Western Canada. The Company intends to develop a world-class potash deposit in an ecologically sustainable, economically efficient and socially responsible manner. For more information on Western Potash Corp.’s projects, please visit the Company’s website at: www.westernpotash.com.
ON BEHALF OF THE BOARD OF DIRECTORS
J. Patricio Varas, President and CEO
“J. Patricio Varas”
For information on the contents of this release please contact John Costigan, VP Corporate Development at 604-689-9378.
Cautions Regarding Forward-Looking Statements
The Company cautions the reader that there is no guarantee that any of the potential outcomes set out or reffered to above, or the use of the Plan, will actually occur. Except for statements of historical fact relating to the Company, certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the effect and estimated timeline of the drilling and assay results on the Company, the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; and title disputes or claims; Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". 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, level of activity, performance or achievements 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 statements or 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 statements and forwardlooking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.