Western Potash Corp. Grants Stock Options and Reports Results of Annual General Meeting
VANCOUVER, British Columbia--(BUSINESS WIRE)--Western Potash Corp. (TSX:WPX) (FSE:AHE) (“the Company”) has granted a total of 11,240,000 stock options to directors, officers, employees and consultants under its Stock Option Plan at an exercise price of $0.45 per share. All options will expire in no more than five years from the date of grant.
In addition, the Company is pleased to announce that its shareholders approved all items put before them at the Company’s Annual and Special General Meeting held February 26, 2013. The items approved include as follows:
1. The reappointment of A. Chan and Company, Chartered Accountants as auditors at a remuneration to be fixed by the directors;
2. Setting the number of directors of the Company at 6. (Subsequent to the AGM, Mr. Yang Yexen, CEO and President of China Blue Chemical Ltd. was appointed to the Board pursuant to the strategic investment that closed June 20th, 2013.);
3. The election of J. Patricio Varas, Patrick Power, David Hodge, Troy Nikolai, Buddy Doyle and Peter Miles to the Board. Of the approximately 30.5 million shares voted at the meeting by ballot and by proxy, the approximate number of those votes ‘For’ each director, and the approximate percentage of the total votes cast, are as follows: J. Patricio Varas (26.8 million votes / 95%), Patrick Power (26 million votes / 92%), David Hodge (26.1 million votes / 92%), Troy Nikolai (26.8 million votes / 95%), Buddy Doyle (26.7 million votes / 95%) and Peter Miles (25.9 million votes / 92%);
4. An ordinary resolution approving the Company’s Advance Notice Policy; and
5. An ordinary resolution providing for the amendment of the exercise price of insiders’ incentive stock options to $0.50 per share.
Western Potash Corp. is a development stage potash company focused on building Canada's most efficient potash solution mine. The Company intends to develop a world-class potash deposit in an ecologically sustainable, economically efficient and socially responsible manner. A positive Feasibility Study for the Milestone potash project was completed in December 2012, demonstrating robust project metrics.
For more information on Western Potash Corp.’s projects, please visit the Company’s website at: www.westernpotash.com
ON BEHALF OF THE BOARD OF DIRECTORS
“J. Patricio Varas”
J. Patricio Varas
President and CEO