Potash One Completes Acquisition of New Potash Permits in Saskatchewan

Potash One Inc. (the "Company" or "Potash One") (TSX VENTURE:KCL) is pleased to
announce that it has completed its acquisition of 100% of three potash
exploration permits in Saskatchewan (KP 355, KP 356 and KP 357) and two permit
applications (416 and 417) currently under review, from Giant Potash
Corporation, a private Alberta corporation, as previously announced in the
Company's March 26, 2008 news release. All of the permits and applications
border or are in the vicinity of existing or planned potash operations. Please
visit our website (http://www.potash1.com/s/Permits.asp) to view the new Potash
permits and permit applications.


The purchase price consisted of 1,408,000 common shares of the Company (with a 4
month hold expiring August 4, 2008) and $2,897,880 in cash.


Paul F. Matysek, President and Chief Executive Officer of Potash One Inc., said:
"We are very pleased to have quickly completed this key acquisition, as it
provides us with a strategic and dominant position in Canada's largest solution
potash producing mining region."


The Company paid a finder's fee of $55,000 in cash and warrants exercisable to
purchase up to 200,000 common shares at a price of $4.00 per share for a period
of two years, to 0819806 BC Ltd. The securities issued to the finder are subject
to a hold period expiring August 8, 2008.


About Potash One Inc.

Potash One Inc. is a Canadian resource company engaged in the identification,
acquisition, exploration and development of advanced solution mine amenable
potash properties. The Company holds an option to acquire 100% interest in a
97,240 acre Potash Subsurface Exploration Permit ("the Legacy Project"), owns
100% of three other Potash Subsurface Exploration Permits covering 239,000 acres
that are contiguous to the Legacy Project in Saskatchewan, Canada. The Company
also has two potash permit applications under review in southeastern
Saskatchewan. The Legacy Project was previously explored by Imperial Oil Ltd.
(now Exxon) and Lumsden Potash Corporation and is adjacent to one of the largest
producing solution potash mines in the world. The Company has a solid balance
sheet and experienced technical and corporate management to advance its current
project to the next level.


Forward Looking Statement

This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. All statements in this release, other than
statements of historical facts, that address further production, reserve
potential, exploration and development activities and events or developments
that the Company expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions such statements are not guarantees of further
performance, and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include market
prices, exploration and development successes, continued availability of capital
and financing, and general economic, market or business conditions. Please see
our public filings at www.sedar.com for further information.

Potash One (TSXV:KCL)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024