Organic Potash Corp. to build production facilities in West Africa
Additionally, OPC's board announced the resignation of director Michael Galloro as well as the termination of the subscription agreements and financing contracts with three investment groups from the People's Republic of China.
"We are pleased to see that the government of Ghana via the ETAIDFG, is reviewing the business in detail to potentially step up to the plate to assist in moving this venture forward," Heather Welner, president and CEO of OPC, said. "The funding, once approved and then received, will allow GC to use all of the knowledge gained from the initial plant and move the business toward successful commercial production. I am also very excited with the strategic change we are taking as we explore opportunities with strategic partners in other Western African countries."
OPC has already entered into an agreement with Mclean Ghana Ltd. (MGL), which will purchase 55 percent of issued and outstanding shares of GC Resources Ltd. from OPC.