Nigeria resumes mining in Zamfara state on improved security
Nigeria has lifted a ban on mining exploration in the northwestern state after a five-year suspension.
Shares in Organic Potash Corporation commenced trading on the Canadian National Stock Exchange on Monday, August 15, 2011, under the symbol “GOP”.
Organic Potash Corporation’s focus is on the production of potash from the ash of agricultural waste, in particular, cocoa husks.
Pursuant to an exclusive technology licensing agreement for West Africa with GC Technology Ltd., Organic Potash Corporation has the right to use proprietary technology, consisting of specially designed and patented kilns, to produce the ash from cocoa husks.
Organic Potash Corporation works with the cocoa farmers of Ghana to have the cocoa husks burned to an ash using the patented kilns and delivered to its factory. Once delivered to the factory, the ash is put through the patented process that leaves its final form of 99%+ pure potassium carbonate (potash).
Organic Potash Corporation is currently constructing its factory and formalizing its supply chain to be able to produce potassium carbonate.
Effective July 8, 2011, Organic Potash Corporation and Tulox Real Estate Developments Inc. amalgamated to form Organic Potash Corporation with each respective shareholder becoming a shareholder in the Company. Each OPC shareholder received one (1) Company share for each share owned in OPC.
Each TRED shareholder received one (1) Company share for every two and one half (2.5) shares owned in TRED. Concurrent with the listing of the amalgamated company, financing of $2,536,468 was raised at a price of $0.15 which will be used to fund the construction of the first production facility. The Company now has 64,325,252 common shares outstanding.
The directors and officers of the Company are Heather Welner, the President, Chief Executive Officer and a director of the Company; Jonathan Held, the Chief Financial Officer of the Company; Augustus Tanoh, the Executive Vice-President and a director of the Company; Wally Rudensky, a director; Michael Galloro, a director; and Don Gordon, a director.
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