Merger cash to help Potash One advance Legacy

摘要

As many juniors deliberate over doing financings amidst the market turmoil, Potash One (KCL-T, KCLOF-O) president and CEO Paul Matysek is getting ready to coast through the next year once his company completes a merger with cash-rich Potash North Resource (PON-V, PTNHF-O). Potash North will bring more than 30 million dollars to the table, and when the deal is complete, Potash One will have more than 50 million dollars in the bank. That will be enough for it to complete a feasibility study on its Legacy project in 2010. "The reason we've done this deal is we want to provide certainty to our shareholders that we have enough cash to take us right through feasibility," Matysek explains.