Western Potash and Tairui sign MOU With China Development Bank
Western Potash Corp. (TSX:WPX)(FRANKFURT:AHE) (the “Western”, “the Company”) is pleased to announce that a Memorandum of Understanding for Strategic Cooperation was signed on September 29, 2015 at Vancouver’s Four Seasons Hotel by China Development Bank, Western Potash Corp., and Beijing Tairui Innovation Capital Management Ltd., (“Tairui”). Among those attending the signing ceremony were Mr. Hu Huaibang, Chairman of China Development Bank, Mr. Geoffrey Chang, Chairman of Western Potash Corp., with Mr. Xu Ming, President of the Beijing Branch of China Development Bank, Mr. Patricio Varas, CEO of Western Potash and Mr. Xue Wenye, President of Tairui signing the Memorandum of Understanding respectively.
China Development Bank is a Chinese policy financial organisation, with a focus on the development of international business, and remaining in the top position among Chinese banks with respect to international investment and financing.
In his speech at the signing ceremony, Mr. Wang Gefan, Chief Operations Officer of China Development Bank said that Tairui and China BlueChemical Ltd. have responded positively to China’s national investment strategy by taking the lead among Chinese companies in developing the first Potash project in Canada. This not only serves as an excellent example but also provides numerous benefits to both China and Canada. China Development Bank is willing to support Tairui and China BlueChemical Ltd. in their efforts to develop overseas markets to grow and accelerate their business. China Development Bank will bring its comprehensive financial capability to the project in co-operation with Western Potash Corp. in the mining industry in North America.
ON BEHALF OF THE BOARD OF DIRECTORS