OREANDA-NEWS. October 3, 2011. North Atlantic Potash Inc., the Canadian subsidiary of Acron, today completed the sale of eight of its potash permitted areas to the Yankuang Group Corporation Limited of China for USD 110 million.

The sale allows North Atlantic Potash to focus its activity on key areas of interest within its remaining potash permits in Saskatchewan. The infusion of cash means the prioritization of advanced exploration and drilling required to delineate resources can now proceed through a systematic and strategic capital expenditure program. This sale relates to North Atlantic Potash’s potash permit holdings located north of Regina (see map on website: permits KP 374, 377, 392, 406, 506, 399, 378, and 507).

“North Atlantic Potash has moved quickly to prioritize and maximize the potential of its potash permits in Saskatchewan,” said Arie Zuckerman, President of North Atlantic Potash. “This is another key step forward on the continuum that moves us towards developing our potash resources in the province. With the resources in place, the promising location of our focus area, and the mining experience that our mother company Acron provides, I am confident in the success of North Atlantic Potash.”

“We’ve said from the start that we are committed to potash development. The proceeds of this sale allow us to substantially increase our exploration program in the province,” added David Waugh, CEO of North Atlantic Potash. “Our immediate area of focus remains the Foam Lake area where we have completed an extensive seismic survey and are currently preparing to embark on a drilling campaign this fall.”