Organic Potash Corporation Announces New Memorandum of Understanding
TORONTO, Dec. 21, 2018 (GLOBE NEWSWIRE) — Organic Potash Corporation (“OPC” or the “Corporation”) is pleased to announce that further to its press release of November 24, 2015, Karl Akueson, Founder of NCV, OPC’s joint venture partner in the Ivory Coast has, acting in capacity as Trustee, for both NCV and OPC, entered into a Memorandum of Understanding (“MOU”) with a major international producer of low carbon energy (the “Partner”) for the construction of a plant that would allow the economical viable production of renewable energy, heat, potassium carbonate, and natural fertilizers from cocoa pod husks. The Parties will continue to work towards a Joint Venture Agreement in early 2019.
The Partner will be fully identified upon the conclusion of a binding agreement.
It is the intention to develop a first prototype unit for the production of 1 MW of electricity, approximately 1,000 tons per year of potassium carbonate and various natural fertilizer compositions. The viability of this prototype would serve as a basis for replication of the project, on other sites in Ivory Coast, or elsewhere in Africa. In Ivory Coast, the Parties have the objective to replicate this prototype model to achieve a combined production of at least 10 MW of electricity and 10,000 tonnes per year of potassium carbonate (the “Project”).
Africa supplies approximately 75% of global cocoa. Ivory Coast alone produces 43%. This represents a unique opportunity for major growth prospects for OPC and its technology.
Mrs. Heather Welner, President, CEO stated: This venture will lay the groundwork for similar projects in Ivory Coast and throughout West Africa. OPC is proud to be a partner with NCV and a major international company and looks forward to a long and successful relationship.
About Organic Potash Corporation
Through its licensed, proprietary, patented technology, Organic Potash Corporation produces 99%+ pure potassium carbonate (potash) from the ash of agricultural waste, in particular, cocoa husks. The purity of the company’s potassium carbonate will allow Organic Potash Corporation to target multiple industries including the Agricultural and Pharmaceutical industry. Organic Potash Corporation is headquartered in Toronto, Ontario and its shares trade on the Canadian Securities Exchange under the trading symbol “OPC”. For further information, please visit the company website at www.organicpotash.com.
For further information please contact:
Mrs. Heather Welner
President and CEO
Organic Potash Corporation
Tel: (905) 452-8060
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.