AsiaBaseMetals to purchase potash project

摘要

ASIABASEMETALS has agreed to terms for the acquisition of a 90% interest in a 16.5sqkm potash exploration property in the Huaxieng -Xaithany area of Vientiane Province. The Vientiane Potash Project is currently being expanded to 55sqkm. The consideration payable by TSX Venture Exchange-listed Asi-aBaseMetals to acquire the 90% interest is up to an aggregate of Can$4 million in cash payments and the issuance of up to an aggregate of 22 million common shares, payable in stages on completion of specific financing, resource and engineering studies, mine development and construction milestones.