TORONTO, ONTARIO -- (Marketwire) -- 07/13/12 -- Ethiopian Potash Corp. (the "Company" or "EPC") (TSX VENTURE: FED)(TSX VENTURE: FED.WT) announces that it has completed the shares for debt transactions announced on July 3, 2012 after receiving the approval of the TSX Venture Exchange.
EPC has issued 14,687,163 common shares (the "Common Shares") at a deemed price of $0.15 per Common Share in settlement of outstanding debts in the aggregate amount of $2,203,074.68 owed to certain arms-length service providers. The Common Shares will be subject to a four month hold period expiring on November 14, 2012.
About Ethiopian Potash Corp.
Ethiopian Potash Corp. (TSX VENTURE: FED)(TSX VENTURE: FED.WT) is a Canadian company based in Toronto, Ontario and Addis Ababa, Ethiopia.
On behalf of the Board of Directors
George Roach, CEO & Director
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.
+1 416 907 9422
Ethiopian Potash Corp.
Chief Executive Officer and Director
+44 779 626 3999