On September 20, 2017, it was announced that GEM Investments America, LLC and GEM Global Yield LLC SCS (GEM Capital) undertook to invest up to CAD $100 million over the next three years in Encanto Potash Corp. (Encanto). Upon a drawdown notice being issued from the company shares will be issued at a price 90% of the market price subject to a $.05 per share minimum.
GEM Capital is a USD $3.4 billion alternative investment group that manages a diverse set of investment vehicles and has offices in Paris, New York and Los Angeles. GEM Capital has completed over 370 transactions across 70 countries since 1991. Encanto Potash Corp. is a TSX Venture Exchange listed and traded Canadian resource company engaged in the development of potash properties in the province of Saskatchewan, Canada, the largest producing potash region in the world.
The funding facility will be used for the engineering and design phase of the mine in anticipation of a shovel-ready construction date of September 2019.
Fasken advised GEM Capital on this investment with a team lead by Neil Kravitz that included Janie Harbec.
