News

Western Potash Corp. is pleased to announce today that its wholly-owned subsidiary, Western Potash Corp. (“Western”), closed the second tranche, in the amount of US$31 million (C$41.6 million equivalent)  of its Cdn$85 million loan transaction with Appian Capital Advisory LLP (“Appian”), the terms of which were previously announced in the press release dated April 28, 2022.

Western Potash Corp. is pleased to announce today that its parent company Western Resources Corp.(the “Company”) (TSX: WRX) has closed the previously announced conversion of common shares held by Vantage Chance Limited ("Vantage") in Western Potash Holdings Corp., a subsidiary of the Company, which were exchanged for common shares of the Company ("WRX Shares"), following receipt of conditional approval from the TSX and the written consent by its majority shareholder, Tairui Mining Inc. ("Tairui"), which owns 105,854,938 WRX Shares, representing approximately 56.08% of the total issued and outstanding WRX Shares pre-conversion.

Vancouver BC – Western Resources Corp. (the “Company”) (TSX: WRX) is pleased to announce that it has accepted the Conversion Notice (as defined in the Subscription Agreement dated February 16, 2022, which was amended and restated on May 20, 2022 and further amended and restated on July 29, 2022) issued by Vantage Chance Limited ("Vantage"). Pursuant to the Subscription Agreement, Vantage completed its $80 million investment (the “Investment”) in Western Potash Holdings Corp.

Western Potash Corp. is pleased to announce that  Western Potash Holding Corp. (“WPHC”) has received the third and the last tranche of the equity funding proceeds from Vantage Chance Limited (“Vantage”) today in the amount of $30 million in exchange for the issuance to Vantage of 58,996,901 common shares of WPHC, which represents the closing of the previously announced Investment Transaction (as set out in a press release dated February 16, 2022).

August 16, 2022, Regina, SK – Western Potash Corp. (“Western” or the “Company”) is pleased to announce that its Milestone Potash Phase 1 Project (the “Project”) team successfully hosted a Community Open House in Kronau, Saskatchewan on August 4, 2022.  This event aimed to update the local community about various aspects of the Project, including the construction plan especially, the optimized mining development plan and Western’s strategic vision for the future.

Western Potash Corp. is pleased to announce that its parent company Western Potash Holding Corp. (“WPHC”) has received the second tranche of its equity funding proceeds from Vantage Chance Limited (“Vantage”) in the amount of $17 million on July 29, 2022, as part of the previously announced Investment Transaction (as set out in a press release dated February 16, 2022) , in exchange for the issuance to Vantage of 33,431,578 common shares of WPHC. Upon issuance, Vantage will hold approximately 42.32% of the issued and outstanding common shares of WPHC, which in turn owns 100% of Western Potash Corp. (which itself owns Milestone Potash Project (the “Project”).

Western Potash will hold Community Open House on August 4, 2022 at Kronau Curling Club, between 4:00 pm to 8:00 pm. Details please see attached.

Western Potash Corp.(“Western”) is pleased to announce that it has an enhanced corporate and project management team. Following the official kick-off of the Milestone Phase 1 Project (the “Project”) in mid-May, Western established its Executive Committee (“EC”) and Technical Committee (“TC”) to advance the Project more effectively.

Western Potash Corp. (“Western” or the “Company”) is pleased to announce it hosted a delegation of thirteen officials from three different Ministries of the Saskatchewan government for a mine tour today at the Milestone Project (the “Project”) site. After closing financing deals with Appian Capital and Vantage Chance in May, the Project kicked off with key contractors in mid-June, with mobilizations now occurring at the site.

Western Potash Corp. is pleased to announce that it has completed a Collaborative Project Planning Session with its key contractors and staff to officially kick off the restart of the Milestone Project (“Project”) in order to complete the process facilities and solution mining development. Key Project representatives participated in a workshop style planning session in Regina to review and gain alignment on key aspects of the project timeline and readiness for start-up, leading into the full ramp up of operations which is expected to happen in mid 2023.