pp map

PP's land holdings

Pacific Potash (PP:TSXV) announced today that it intends to merge with Cowley Mining Plc to create the second largest landholder in the Amazonas potash basin, similar in size to Petrobras and Brazil Potash.  The two also intend to raise up to $12 million in equity (120 million units at $0.10 per unit).  Cowley owns strategic land adjacent to Brazil Potash’s 381 million tonne potash deposit.  Once merged, the combined entity intends to drill a six-well program which is estimated to cost $10 million.  After closing, Cowley shareholders will own 37.5% of the combined entity which will have approximately 175 million shares outstanding, post-merger and 295 million post-financing.

News Release: Pacific Potash to merge with Cowley Mining to Become Largest Publicly Listed Landholder in the Amazon Potash Basin

Here's the long term chart:

Pacific Potash (PP:TSXV)

Pacific Potash (PP:TSXV)