On March 31, 2017, Western Potash Corp. (“Western Potash”) completed its corporate restructuring pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia) whereby Western Potash became a wholly-owned subsidiary of Western Resources Corp. (“Western Resources”). Under the plan of arrangement, Western Potash shareholders received 0.2 of a Western Resources common share for each Western Potash common share. Western Resources, which is listed on the Toronto Stock Exchange, will consider and implement alternative value enhancing activities, including the acquisition of additional resource properties in other separate wholly-owned subsidiaries of Western Resources.
Western Potash is the 100 per cent owner of the Milestone potash project in Saskatchewan.
Western Potash was represented by Bennett Jones LLP with a team including Michael Melanson and Tina Liu (M&A), Jeffrey Leon and Brigeeta Richdale (litigation) and Matthew Peters (tax).