VANCOUVER, British Columbia, Sept. 8, 2022 (GLOBE NEWSWIRE) — Western Resources Corp. (“Western” or the “Company”) WRX is pleased to announce that its subsidiary, Western Potash Holding Corp. (“WPHC”) today received the third and final tranche of the proceeds of the $30 million equity financing from Vantage Chance Limited (“Vantage”) in exchange for the issuance of 58,996,901 common shares of WPHC to Vantage, which represents the completion of the previously announced investment transaction (as set forth in a press release dated February 16, 2022).

Upon completion of the investment transaction, Vantage has invested an aggregate of $80,000,000 in WPHC and has become the registered and beneficial owner of an aggregate of 157,325,071 common shares, representing 54% of WPHC’s total issued and outstanding common shares, with the remaining 46% owned by the Company. WPHC owns 100% of Western Potash Corp. and its Milestone Potash Project (“Project”).

Bill Xue, Western Chairman and CEO, stated, “Vantage’s completion of the equity investment has provided additional financial security for the successful completion of the Milestone Phase 1 project construction. I am pleased that our project team is making great strides in the areas of process plant construction, pump house modifications, solution mining readiness and building a stronger and more solid team Express our commitment to maintain and support the existing management structure of the company.”

About Western Resources Corp.

Western Resources Corp. and its subsidiary Western Potash Corp. are building one of Canada’s newest and most innovative, environmentally friendly and capital efficient potash mines. It is said to be the world’s first potash mine that leaves no salt residues on the surface, thereby reducing water consumption…