SPARKS, Nev., Nov. 30, 2011 /PRNewswire/ -- Potash
America, Inc. (OTCBB: PTAM), ("The Company"). Representatives of
the Company attended the Northwest Mining Association Conference.
In attendance were our CEO and President, Barry Wattenberg, and our Advisory Board member
Roger Haskins, who acts in the
position of Strategic Project Advisor.
The Company has engaged Telesto Nevada, Inc. to perform
engineering and permitting work designed to begin commercial
production from the Sodaville quarry.
The Company had representatives at the 2011 Annual Conference of
the Clay Minerals Society of which the Company is also a member.
While based in D.C., the Lake
Tahoe meeting gave the Company its first forum to discuss
its Sodaville montmorillonite. The Company has recently reported
their second quarter. Barry
Wattenberg, CEO and President said, "It had been a very
active quarter. We closed on properties/claims, acquired others,
and continue building around a framework of outstanding
people."
The Company also completed a study compliant with Canada's National Instrument 43-101 on its
St. Fintans property in
Newfoundland, Canada. The study is
available on the company's website www.potashamerica.com.
On November 22, 2011, the Company
entered a second Credit Facility Agreement in which the lender
agreed to provide the Company with a line of credit in the amount
of up to $500,000. Pursuant to the
terms of the Credit Facility Agreement, the Company shall pay any
outstanding amounts to the lender on demand. The Company may also
repay the loan and accrued interest at any time without penalty.
Amounts outstanding shall bear interest at the rate of 10% per
annum.
"Forward-looking statements", as that term is defined in Section
27A of the United States Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Statements which are not
purely historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future including, but not limited to, additional
acquisitions, any draw downs on the line of credit or the Company's
ability to repay amounts advanced. Actual results could differ from
those projected in any forward-looking statements due to numerous
factors. Such factors include, among others, the inherent
uncertainties associated with mineral exploration. Potash America,
Inc. 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 we believe that the beliefs, plans, expectations and
intentions contained in press release are reasonable, there can be
no assurance that such beliefs, plans, expectations or intentions
will prove to be accurate. Investors should consult all of the
information set forth herein and should also refer to the risk
factors disclosure outlined in our current and periodic reports
filed from time-to-time with the Securities and Exchange
Commission.
For Additional Information, Contact:
Teresa Schaffer, shareholder/public
relations
Tel: 1-877-745-3680
E-mail: teresaschaffer@jroycemedia.com
SOURCE Potash America, Inc.