TORONTO, ONTARIO -- (Marketwire) -- 09/25/12 -- Ethiopian Potash Corp. (the "Company" or "EPC") (TSX VENTURE: FED) announces that it has completed the shares for debt transaction announced on September 14, 2012 after receiving the approval of the TSX Venture Exchange.
EPC has issued 2,140,000 common shares (the "Common Shares") at a deemed price of $0.15 per Common Share in settlement of a portion of the outstanding debt owed to an arms-length service provider. The Common Shares will be subject to a four month hold period expiring on January 26, 2013.
EPC is also pleased to announce the appointment of Pamela Hueston as a director of the Company, effective immediately.
Pamela Hueston is currently the Director of Finance of Premier African Minerals Limited, a company established to acquire and develop mineral properties across West and Southern Africa, and has held other finance positions with mineral exploration companies in Africa. Prior to working in the mining industry, Ms. Hueston spent four years with Deloitte in various global locations working as a Senior Manager in Forensic Accounting. Ms. Hueston is a Canadian Chartered Accountant and MBA graduate from the University of Cape Town.
About Ethiopian Potash Corp.
Ethiopian Potash Corp. (TSX VENTURE: FED) is a Canadian company based in Toronto, Ontario and Addis Ababa, Ethiopia.
Neither the 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.