Ethiopian Potash Corp. Announces Renewal of Danakil License
December 19, 2012 (Source: Marketwire) — Ethiopian Potash Corp. (the “Company” or “EPC“) (TSX VENTURE:FED) is pleased to announce the renewal of Danakil mineral exploration licence 3137-3150/2000 (the “Danakil Permit“) obtained by G and B Central African Resources Ltd. (“G&B“) from the Ministry of Mines and Energy of the Federal Democratic Republic of Ethiopia for the period up to and including August 21, 2013. Pursuant to an option agreement between EPC, G&B and the shareholders of G&B, EPC has the right to acquire 100% of G&B subject to the fulfilment of certain conditions as set forth therein.
EPC also announces its intent to voluntarily cease the listing of its common shares on the OTCQX Bulletin Board effective December 31, 2012. This will not affect the listing of EPC’s common shares on the TSX Venture Exchange. Additionally, the Company will return 5,388,252 common shares to treasury for cancellation, representing an increase of $808,237.80 of payables of the Company, in order to correct an administrative error in connection with the shares for debt transaction completed on July 13, 2012. After correcting this matter, EPC will have 120,076,137 common shares issued and outstanding.
About Ethiopian Potash Corp.
Ethiopian Potash Corp. (TSX VENTURE:FED) is a Canadian company based in Toronto, Ontario and Addis Ababa, Ethiopia.
On behalf of the Board of Directors
George Roach, CEO & Director
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