Vancouver-Potash One Inc. announced on July 24 that it has completed the acquisition of the remaining 75 percent interest in Potash Permit KP289, known as the Legacy Project, through the purchase of all of the issued and outstanding shares of Invictus Minerals Corporation, a private company. Potash One previously acquired its initial 25 percent interest in the Legacy Project pursuant to an option agreement dated May 10, 2006, as amended May 15, 2007. Potash One paid $3.25 million in cash for the shares of Invictus, which is the same as the cash value of the consideration payable under the option agreement. The shares were purchased from a group of eleven individuals, all of whom are at arm’s length to Potash One.
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