North Atlantic Potash Inc., the Canadian subsidiary of JSC Acron, today completed the sale of eight of its potash permitted areas to the Yancoal Canada Resources Co. Ltd. of China for $110 million.
The sale allows North Atlantic Potash to focus its activity on key areas of interest within its remaining potash permits in Saskatchewan. The infusion of cash means the prioritization of advanced exploration and drilling required to delineate resources can now proceed through a systematic and strategic capital expenditure program. This sale relates to North Atlantic Potash's potash permit holdings located north of Regina (see map on website: permits KP 374, 377, 392, 406, 506, 399, 378, and 507).