TORONTO–(BUSINESS WIRE)–Organic Potash Corporation (“OPC” or the “Corporation”) OPC is pleased to announce a significant event, with respect to its operations in West Africa.
OPC through its subsidiary in West Africa, OPC Ivory Coast (OPCIC) Inc., has entered into a Memorandum of Understanding for a Cooperation Agreement (the “Agreement”) with PALMCI, a leader in the production of refined palm oil products, with the largest palm oil refining plant in Africa. PALMCI is a subsidiary company of the SIFCA Group, a major global player in several agro-industrial fields (for more information on this partner company, please see www.groupesifca.com). The Agreement opens up the possibility of producing a mix of food-grade potassium carbonate crystals (at 99% purity), potassium carbonate solution and organic sourced fertilisers using OPC’s licenced technology.
Following the successful testing and determination, the parties will review a potential investment decision to construct a first production unit on a PALMCI site in Ivory Coast. In parallel, OPC Ivory Coast will begin next year, preliminary pilot operations of the production of cocoa-based potassium carbonate and other products.
The mixture of cocoa and palm oil production waste are the two key ingredients envisaged under this agreement. Africa supplies approximately 75% of global cocoa, with Ivory Coast alone producing 43%. The Ivory Coast is also the 11th largest supplier of palm oil in the world and 2nd largest in Africa.
Mrs. Heather Welner, President and CEO of OPC stated: “This opportunity of collaboration with PALMCI, provides OPC with an opportunity to determine the ability to potentially expand its raw material base and increase supply chain accessibility and availability. PALMCI is a leader in its field in West Africa and will enhance the collective knowledge gained through the Agreement.”
About Organic Potash Corporation
Through its proprietary licensed, patented technology, Organic Potash Corporation produces 99%+ pure potassium carbonate (potash) from the ash of agricultural waste, in particular, cocoa husks, but now with a view to including palm waste. 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 National Stock Exchange under the trading symbol “OPC”. For further information, please visit the company website at www.organicpotash.com.
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 Corporation 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 CNSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of this release.