Vancouver, British Columbia: Organimax Nutrient Corp. (TSX-V: KMAX) (“OrganiMax” or “the Company”) would like to update its shareholders’ to the state of the Company and future plans.
The recently appointed Directors’ of the Company have had an opportunity to review its flagship SOP/Lithiumprojectanditscurrentfinancialposition. Therealitytodayisthatthecompanyisina critical financial position where the directors’ will have to significantly decrease its current outstand- ing liabilities while at the same time fund the company. The Company will consider all options in- cludingimpairmentofcertainassetsifneedbe. Withbestefforts,OrganiMaxismovingforward with the project and will negotiate its liabilities with the focus to retaining the Project that has had considerable exploration dollars invested over the years’. The Company is encouraged that with the recent consolidation of shares, there will be support to capitalize and support the company’s initia- tives moving forward.
Simultaneously, OrganiMax will be conducting due diligence on identifying and evaluating potential mineral interest acquisitions or other business opportunities.
The Company has been working towards completing its Maiden Resource Estimate (MRE) for some time. The MRE will comprise its three highest priority salars – Caliguey, La Salada, Santa Clara – targeting potassium and lithium, initially in sediments. The results will be press released when the company is in a financial position to do so. When published, this will be the completion of a long- term milestone for OrganiMax Nutrient Corp.
And finally, the Board of Directors have been decreasing monthly expenses significantly and will maintain these low expenses moving forward as it looks forward to resolving current issues and as- sessing potential new business opportunities. We will strive to rebuild shareholder value for all.
About OrganiMax Nutrient Corp. (KMAX.V)
OrganiMax Nutrient Corp is an exploration company focused on advancing its 100%-owned potas- sium and lithium bearing salar complex of mineral concessions located the Central Mexican Plateau located in the states of Zacatecas, San Luis Potosi and Coahuila, Mexico. The Company has previ- ously identified both potassium and lithium in both the salar sediments and near-surface brines, and is progressing towards its maiden sediment mineral resource estimate (MRE). In addition, recent regional geophysical work has indicated that the depths of the salar basins may be much greater than previously thought, making the salars highly prospective for large brine aquifers to be discovered at depth. TheCompanyistargetingSulfateofPotash(SOP)asitsprimaryproductalongwithassoci- ated by-products Lithium Carbonate (LCE) and boron for both the domestic and international mar-
kets. SOP is a premium specialty fertilizer that is used in the production of high-value chloride sen- sitive crops such as fruits, vegetables, and nuts.
On behalf of the Board of Directors of OrganiMax Nutrient Corp.,
Brandon Rook, Chief Executive Officer.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RE- SPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet deter- minable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “for- ward-looking statements.”
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