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African Potash Ltd.: Joint Venture Agreement

African Potash Ltd.: Joint Venture Agreement

Fri, 01 Dec 2017 11:06:21
: African Potash Ltd.: Joint Venture Agreement

African Potash Ltd. (AFPO)

01-Dec-2017 / 11:06 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

 

1 December 2017

 

AFRICAN POTASH LIMITED

("African Potash" or the "Company")

Joint Venture Agreement

 

African Potash, is pleased to announce that, pursuant to a Memorandum of Understanding, signed in August 2nd, with the government of the Republic of Congo, it has entered into a Joint Venture agreement with SG Inc., incorporated in Barbados. SG Inc. is an African focused investment and project development group. The agreement is to develop, operate and commercialise the mineral opportunities and downstream resources in the Republic of Congo for the production of fertiliser. Each party will own fifty percent of the venture.

 

Chris Cleverly, Executive Chairman, said, "The combination of proven key 'in situ' fertiliser components, along with existing and planned infrastructure in the Republic of Congo is significant. The proximity of the port facilities at Pointe Noire ultimately offers access to international markets. 

 

The Company looks forward to working with our partner, who has an excellent track record of building resource-based and other businesses in the Republic of Congo. 

 

This agreement represents a further step in our strategy to build a vertically integrated fertiliser business from initial resource through to selling, using block-chain technology, direct to the farm".

 

 

The Company will make further updates in due course.

 

The Directors of the Company accept responsibility for the content of this announcement.

 

**ENDS**

For further information visit www.africanpotash.com or contact the following:

 

For further information, please contact:

 

African Potash Limited

 

Chris Cleverly

+44 (0) 20 7408 9200

NEX Exchange Corporate Adviser:

 

Alexander David Securities Limited

 

David Scott - Corporate Finance

+44 (0) 20 7448 9820

James Dewhurst - Corporate Broking

+44 (0) 20 7448 9820

 




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