​American Potash Enters Into Strategic Partnership with MGX Minerals Inc. (XMG:CNX) for Lithium Portfolio

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American Potash Corp. has entered into a strategic partnership agreement with MGX Minerals Inc. (XMG:CNX), whereby MGX may acquire certain interests held by the company via an agreement to acquire Power Metals Corp.'s Paradox basin joint venture (JV) rights with American Potash.

"We are extremely excited to now be working with MGX to move the company's petrolithium project forward. We believe that MGX is not only a well-capitalized company but also the unquestionable leader in the petrolithium space. This partnership will allow us to maximize shareholder value by partnering with a company like MGX that possesses a talent pool with deep experience in successful oil and gas drilling, discoveries and extraction," stated Rudy de Jonge, chief executive officer of American Potash.

The partnership will be using the latest in drilling and extraction technologies to explore and develop the company's lithium brines totalling 13,520 acres of prime ground in the Paradox basin, Utah.

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Symbol Name Price Change % Volume
XMG:CNX MGX Minerals Inc. 1.05 0.03 2.94 214,948


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