Sichuan Chemical Issues $20 Million Strategic Investment Letter of Intent to Prospect Global Resources
Sichuan looking to expand relationship with PGRX
Sichuan Chemical Industry Holding (Group) Co., Ltd. (“Sichuan”) has issued Prospect Global Resources Inc. (“Company” or “Prospect”) a Letter of Intent indicating interest in up to a $20 million strategic investment in Prospect to further the development of the Company’s Holbrook Project. Prospect and Sichuan Chemical entered into a potash supply agreement in 2012.
Xiaojun Chen, Chairman of Sichuan Chemical’s Board of Directors, stated, “Sichuan has been looking for ways to deepen its cooperation with PGRX. We look forward to working with PGRX in order to bring its Holbrook Basic project to completion and Sichuan will continue to pursue additional avenues of cooperation going forward.”
- Published: 19 September 2013
- Written by Editor