Western Potash Corp.
About Western Potash
Western Potash Corp. is a development stage potash company focused on building a solution mine on the Milestone Project located in southern Saskatchewan, Canada. The Company intends to develop this world-class Milestone potash deposit in an ecologically sustainable, economically efficient and socially responsible manner. The Company has raised in excess of $220 million CAD from institutional and retail investors, including the IPO in May 2008.
In September, 2015, Western announced the closing of the previously announced strategic investment from Beijing Tairui Innovation Capital Management Ltd. (Tairui), whereby Tairui has purchased 238,264,635 common shares of Western at a price of $0.3358 per share for an aggregate purchase price of $80 million. In conjunction with the Transaction, CBC (Canada) Holding Corp. (CBCHC) has purchased 2,144,865 Common Shares also at $0.3358 per share, pursuant to the exercise of its pre-emptive anti-dilution right with the Company, for an aggregate purchase price of $720,245.67. CBCHC made an initial investment in the Company in 2013 in the amount of approximately $32 million.
Following completion of the Transaction, Tairui holds a 51% ownership stake, and CBCHC holds a 10.1% ownership stake, in Western on a non-diluted basis.
Tairui is a China based private equity Investment Company with a focus on the energy and mining industries. The management team has extensive experience in project management and investment management in the natural resource sector.