TORONTO, ONTARIO--(Marketwire - Mar 6, 2013) - Organic Potash Corporation (CNSX:OPC) ("OPC" or the "Corporation") is pleased to announce today that the Corporation has been granted FREE ZONE STATUS by the issue of Free Zone Enterprise License # 020343, by the Government of Ghana.
Mrs. Heather Welner, President, CEO and Chairwoman stated: "Free zone status grants OPC numerous and immediate economic benefits on a continuous go forward basis including:
- Exemption from the payment of income tax on profits for the first ten years from the date of commencement of operation.
- Exemption from duty and import taxes.
- Total exemption from payment of withholding taxes from dividends arising out of free zone investments.
- Relief from double taxation for foreign investors and employees where Ghana has a double taxation agreement with the country of the investors or employees.
The Ghana Standards Authority ("GSA") has certified that OPC''s potassium carbonate manufacturing process, plant, operations and storage facilities, meet all GSA regulatory safety standards.
Mrs. Heather Welner added: "Management is very pleased with being approved and certified by the GSA. The GSA''s function is to establish and promote standards for the manufacturing of high quality goods and services in Ghana. The Board uses four strategies in performing its functions namely: Metrology, Standards, Testing and Quality Assurance (MSTQ). The Ghana Standards Board''s function in industry include the development of standards and certification of systems. The GSA is Ghana''s equivalent to the ISO and has very strict guidelines that follow protocols very similar to the ISO. The GSA has deemed that our potassium carbonate manufacturing processes and storage capabilities are safe and meet all of the GSA''s guidelines."
About Organic Potash Corporation
Through its proprietary patented technology, Organic Potash Corporation produces 99%+ pure potassium carbonate (potash) from the ash of agricultural waste, in particular, cocoa husks. The purity of the company''s potassium carbonate will allow Organic Potash Corporation to target multiple industries including the Agricultural and Pharmaceutical industry. Organic Potash Corporation is headquartered in Toronto, Ontario and its shares trade on the Canadian National Stock Exchange under the trading symbol "OPC". For further information, please visit the company website at www.organicpotash.com.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.