Kassel, Germany-K+S Ag reports that its K+S Canada Holdings Inc. has completed the compulsory acquisition of all outstanding common shares of Potash One not already owned by it pursuant to Section 206 of the Canada Business Corporations Act. As a result of the compulsory acquisition, K+S Canada now holds 100 percent of the outstanding common shares of Potash One. Potash One is making applications to the relevant provincial securities commission to cease to be a reporting issuer under Canadian securities laws. The common shares of Potash One were delisted from the TSX on March 17, 2011. K+S says it will build a new potash solution mine in Saskatchewan that will commence operations in 2015. Initial work on the infrastructure and preparations for first drillings will commence shortly. A review of the optimization approaches in the existing feasibility study should be completed during the second half of 2011. Based on available resources and the environmental permit that has been granted, the Legacy Project has the potential to gradually set up a potash output in excess of 2.7 million mt/y of potassium chloride.
Transparency Across the Fertilizer Value-Chain