Encanto Potash Corp. (TSXV:EPO) announced a private placement of 5% secured convertible debentures for gross proceeds of CAD 7,000,000 on January 8, 2013. The debentures are convertible in whole or in part at the option of the investors into common shares of the company at a conversion price of CAD 0.25 per share for a period of two years from the date of issuance.

The company may pay finders' fee of 5% of the gross proceeds raised in the transaction. The transaction is subject to acceptance for filing by the TSX Venture Exchange.