ESG GLOBAL IMPACT CAPITAL INC.
1000 – 925 West Georgia Street
For Immediate Release
ESGW ENTERS INTO $7.3 MILLION ACQUISITION TRANSACTION
September 2, 2020
Vancouver, B.C. – September 2, 2020 (TSX.V: ESGW and Frankfurt: ES3; OTCQB: ESIFF)
ESG Global Impact Corp. (“ESG”) is pleased to announce that Encanto Potash Corp. (“Encanto”) and Muskowekwan Resources Ltd. (“MRL”) have agreed to Encanto’s arms-length $7,300,000 sale to ESG of 22.96% of Encanto’s ownership of the joint venture with MRL pertaining to certain potash resources in Saskatchewan, paid by the issuance of 730,000 Series B preferred shares of ESG. The transaction remains subject to regulatory approval. Application has been filed by both parties to the exchange to seek approval of the transaction with an effective date of August 31, 2020.
Terms of the Series B preferred shares are issued at face value of $10.00, are voting and carry preferential dividend rights over the common shares. They are convertible on the basis of 10 common shares for each Series B preferred share at the option of the Corporation, who will exercise this right no more than for 2 shares per year. In the event of a windup, holders of Series B preferred shares will be paid in preference to the commons shares, and will have the option to acquire the joint venture interests being acquired in lieu of cash. The complete terms of the Series B preferred shares can be found on www.sedar.com. The Series B shares will not be listed.
This acquisition provides ESG an investment in the commercially important potash industry without having to participate in the further development of these reserves, as all future development and operations costs under the joint venture remain with Encanto.
For more information please contact:
David Berg, CEO
ESG Global Impact Capital Inc.
Telephone: (760) 989-2202
ESG Global Impact Capital Inc., is focused on environmental and socially responsible projects and operates as a Canadian investment issuer company. The Board of Directors modified the business plan of the Company in 2020 to take into consideration the changing demands of the modern economy.
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