Passport Potash Inc

Published : November 05th, 2014

Passport Potash Abandons NAPD Option and Adopts New Share Option Plan

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Passport Potash Abandons NAPD Option and Adopts New Share Option Plan


VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / NOV 4, 2014 - Passport Potash Inc. ("Passport" or the "Company") (PPI.V)(PPRTF) reports that it has abandoned its option agreement with North American Potash Developments ("NAPD"), Potash Green, LLC, Wendy Walker Tibbetts and Joseph J. Hansen (collectively, the "Optionors"). According to the terms of the option agreement, the Company had the right at any time to abandon the option with written notice to Optionors, which notice has been provided. Therefore, the Company has no further obligations to make any option payments.

The Company also reports that is has received a copy of an order from the Arizona State Land Department ("ASLD") that the State sections which were included in the NAPD option agreement have been closed to any new applications for mineral permits or leases.

Furthermore, the Company is pleased to announce that its Board of Directors has adopted a new fixed share option plan (the "2014 Plan") that provides the maximum aggregate number of common shares that may be reserved for issuance under the 2014 Plan at any point in time is 9,180,969, which represents 10% of the Company's issued and outstanding common shares as at the date of the Company's last annual shareholders meeting on September 12, 2013. All stock options outstanding under the previous 2011 rolling stock option plan were rolled into the 2014 Plan. The 2014 Plan is subject to TSX Venture Exchange approval, however, shareholder approval is not required as the 2014 Plan will not result at any time in the number of shares reserved for issuance under stock options exceeding 10% of the Company's issued shares.

About the Holbrook Potash Project

Passport Potash Inc. is a publicly traded corporation engaged in the exploration and development of advanced potash properties with its major focus on a previously explored potash property in Arizona. Passport has acquired a strategic position in the Holbrook Basin.

On behalf of the Board of Directors

PASSPORT POTASH INC.

Joshua Bleak, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact:
United States

Passport Potash Inc.
Ken Bond
480-288-6530, ext. 411

hkbond@passportpotash.com

Canada
Passport Potash Inc.
Clive Mostert
780-920-5044
cmostert@passportpotash.com

www.passportpotash.com


Safe Harbor Statement

THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS". STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.

EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL AND QUARTERLY REPORTS ON FORM 10-K OR FORM 10-Q AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S EXPLORATION EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.

THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NONE OF FINRA, THE SEC NOR THE BRITISH COLUMBIA SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

LEGAL_23043804.2

SOURCE: Passport Potash Inc.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Passport Potash Inc

EXPLORATION STAGE
CODE : PPI.V
ISIN : CA70286C1014
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Passport Potash is a exploration company based in United states of america.

Its main exploration property is HOLBROOK in USA.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Passport Potash Inc
1/21/2013Announces Convertible Debenture
Nominations of Passport Potash Inc
6/6/2013Announces Hiring of Chief Operating Officer
2/2/2012Adds Former United States Congressman to the Board of Direct...
1/18/2012Appoints David Salisbury as Director and Chairman of the Boa...
7/19/2011. Announces New Board Appointments
Project news of Passport Potash Inc
10/31/2012(Holbrook)Enters into Agreement to Acquire 100% Interest in its Landh...
8/3/2012Enters Into Joint Exploration Agreement with HNZ Potash LLC
8/1/2012Drill Results For Passport Potash=2C Inc.
4/2/2012Announces New NI 43=2D101 Compliant Mineral Resource
1/19/2012Would Like to Invite You to The Vancouver Resource Investing...
11/30/2011(Holbrook)Retains ERCOSPLAN to Complete Initial Resource Estimate on H...
9/8/2011Dundee Capital maintains "Buy" Rating, Highlights benefits ...
8/24/2011Signs LOI to Acquire 41,000 Acres of Royalty Free Private La...
6/25/2011Weiss Research Analyst Sean Brodrick comments on Passport Po...
6/16/2011Sean Brodrick, Uncommon Wisdom (6/13/11) " Passport Potash a...
6/3/2011World Resource Conference, Booth 214, Vancouver , June 5-6
4/1/2011(Holbrook). to Expand Holbrook Basin Exploration Program
3/29/2011(Holbrook)Enters Option Agreement with Ringbolt Ventures, Ltd. to Acqu...
Corporate news of Passport Potash Inc
11/4/2015Passport Potash Inc. Announces Transfer from TSX.V to NEX, N...
7/9/2015IIROC Trading Halt - PPI
2/27/2015Appointment of Jerry Aiken to Passport Potash Board of Direc...
11/5/2014Passport Potash Abandons NAPD Option and Adopts New Share Op...
6/9/2014Passport Potash Announces Closing of Convertible Debenture F...
4/23/2014Passport Potash Issues Shareholder Letter
4/16/2014Passport Potash Announces a Strategic Investment
10/19/2013.: News Release
8/22/2013Extends Twin Buttes Ranch Option Agreement to January 2016
8/8/2013Weighs in On How Low=2DCost Potash Firms Will Succeed
7/31/2013Issues Statement on Uralkali Announcement
7/30/2013David Salisbury=2C Chairman of Passport Potash=2C talks to B...
7/26/2013in the media
7/19/2013Stockhouse does Q&A with Passport Potash=2C Inc's new Chief ...
7/3/2013Geotechnical Drilling Update
6/19/2013Permitting Update
6/11/2013Applies for Mineral Leases and Submits Mineral Development R...
6/4/2013Extends Fitzgerald Ranch Closing to June 2015
5/30/2013Announces Acquisition of Strategic New Lands
5/10/2013The Northern Miner writes up Passport Potash=2C Inc.
4/25/2013Announces Completion of First Phase of Drilling on Hopi Prop...
3/19/2013Announces the Dismissal of Lawsuit and Acquisition of Explor...
3/14/2013Chairman David Salisbury talks PEA.
3/13/2013(Holbrook)Announces Positive Preliminary Economic Assessment on its Ho...
11/13/2012and Hopi Tribe Enter Into Joint Exploration Agreement
10/24/2012Investor Introduction
10/16/2012Breaking News on Passport Potash=2C Inc.
10/15/2012Signs Letter of Intent with Hopi Indian Tribe
9/27/2012Announces Mineral Resource Update, Adding Measured Resource ...
9/10/2012Utah Court Grants Passport Potash Motion for Preliminary Inj...
5/24/2012Announces Expanded Drill Program and Reports Progress in Cur...
5/14/2012Enters Into Purchase Agreement to Acquire Fitzgerald Ranch
5/10/2012Continues Expanding the Deposit With Infill and Expansion Dr...
4/24/2012Al Korelin on Passport Potash=2C Inc.'s Latest Site Visit
4/10/2012Chairman to Appear on BNN Commodities Show
2/23/2012Chairman David Salisbury talks with Al Korelin
12/26/2011Season's Greetings from Passport Potash=2C Inc.
10/25/2011Signs LOI to Acquire 50% Ownership Interest in HNZ Potash=2C...
9/6/2011World Money Show, Booth 412, Toronto, September 8-10
7/6/2011highlighted in Dow Jones Newswire
6/20/2011Intersects Up to 25.75% KCL Potash Mineralization at Relativ...
6/15/2011Engages Former Congressman (Hon) Matthew J. Salmon and Upstr...
6/15/2011. Engages Former Congressman (Hon) Matthew J. Salmon and Ups...
6/9/2011Completes Initial Phase Drill Program on Twin Buttes: Set To...
5/6/2011Updates for Passport Potash, Inc.
5/4/2011. Announces Completion of Four Core Holes
4/21/2011Dundee Capital Markets Adds Passport Potash to Its Fertilize...
3/22/2011. to Attend Mines and Money in Hong Kong and FMB Asia Fertil...
3/14/2011. Finalizes Cooperative Agreement with Hopi Tribe
3/11/2011Former Deputy Under-Secretary of the Interior Appointed as a...
3/9/2011President & CEO of Passport Potash Inc., To Appear on Bloomb...
3/3/2011Founder of Anatolia Minerals, James Davidson, Appointed Dire...
3/1/2011. Commences Trading on OTCQX
2/14/2011. Announces Progress on Exploration Program and Additional L...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (PPI.V)
0.020+0.00%
TSX-V
CA$ 0.020
10/08 15:52 -
0%
Prev close Open
0.020 0.010
Low High
0.010 0.020
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.020 -%
Volume 1 month var.
3,562 -%
24hGold TrendPower© : 8
Produces
Develops
Explores for Phosphate
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 2/7/2011
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.09-1.12%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 5.64+6.62%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.73-2.28%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.08+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.00+2.04%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.37-0.59%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.18-2.78%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.32+6.67%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.47+1.65%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 64.25+0.19%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :