Organimax Announces Corporate Update
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ORGANIMAX NUTIRENT CORP | 1400 – 1040 WEST GEORGIA STREET | VANCOUVER, BC V6E 4H1
ORGANIMAX NUTIRENT CORP
1400 – 1040 WEST GEORGIA STREET
VANCOUVER, BC V6E 4H1
ORGANIMAX ANNOUNCES CORPORATE UPDATE
September 11, 2020
Vancouver, British Columbia: Organimax Nutrient Corp. (TSX-V: KMAX) (“OrganiMax” or
“the Company”) would like to update its shareholders’ to the status of the Company and future
plans.
The Company is pleased to report that it has been successful in challenging the Mexican Mining
Authority in the Federal Court of Administrative Justi ce to reduce its land position significantly
focusing on its three primary salar assets and in so doing eliminating the past 3 years of back dated
taxes charged by the government to the Company on its total land package. The judgment in favour
has resulted in the Company’s accounts payable having been decreased by approximately 90% as the
result of this positive ruling; a total of $1,448,960 has been written off from the Company’s balance
sheet.
The rest of the Company’s landholdings have been eliminated and the taxes owing related to these
landholdings eliminated. The Company presently controls 4,059 hectares, a decrease of 17,413
hectares at its salar project located on the Central Mexican Plateau. New licenses will be issued to the
Company for the Caliguey and Santa Clara salars and the La Salada salar license will remain intact and
as is. Organimax’s three primary salars have a significant lithium and potassium resource reported
(see news release dated December 15, 2019 - Maiden Resource Estimate - HERE).
Gilberto Zapata, Country Manager for Organimax states, “We are extremely pleased that the Mexican
Federal Court has decreed a final judgment for the Company in our favour. After my thorough legal
research on this matter, the Company moved forward on the advice given leading to this monumental
decision.”
Organimax has also dropped from its portfolio of projects the Champion graphite property located
in Ontario, Canada and its’ 402,528 hectare Coahuilla lithium exploration property in the state of
Sonora, Mexico.
The board of directors of the Company believes after reviewing its flagship lithium/potash project
and with careful consideration it is in the best interest of all shareholders’ that the Company with best
efforts finds a joint venture partner to carry the project forward or the Company will co nsider an
outright sale.
Organimax’s board of directors is determined to rebuild shareholder value incrementally through
running the Company cost effectively and targeting strategic opportunities in the precious metals
sector. The board has been working diligently in identifying its next flagship project and anticipates a
project decision in the coming months.
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ORGANIMAX NUTIRENT CORP | 1400 – 1040 WEST GEORGIA STREET | VANCOUVER, BC V6E 4H1
About OrganiMax Nutrient Corp. (KMAX.V)
OrganiMax Nutrient Corp is an exploration company focused on advancing its 100% -owned
potassium and lithium bearing salar complex of mineral concessions that comprise more than 4,000
hectares at the Central Mexican Plateau located in the states of Zacatecas, San Luis Potosi,
Mexico. The Company has announced a maiden sediment mineral resource estimate (MRE) of both
potassium and lithium at its three salars. Highlights include:
• 120 million tonnes (Mt) of Inferred Mineral Resources grading 4.6% potassium (K) and 380 ppm
lithium (Li);
• a continuous high-lithium portion of La Salada salar containing 7 Mt grading 1,490 ppm
• a contained 12.3 million tonnes (Mt) of Sulfate of Potash (SOP) and 243,000 tonnes of lithium
carbonate equivalent (LCE);
• Sampling is restricted to 5 metre depths in most areas therefore there is good exploration
potential to increase the Mineral Resource at depth and also extending the sampling to the
edge of the salar basins where sampling has not taken place;
• Geophysical surveys completed suggest there is potential for additional similar layers of potassium
or lithium enriched material to be found under the current pitting/drilling.
• 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.
The Company is targeting Sulfate of Potash (SOP) as its primary product along with associated by-
products Lithium Carbonate (LCE) and boron for both the domestic and international
markets. SOP is a premium specialty fertilizer that is used in the production of high-value chloride
sensitive crops such as fruits, vegetables, and nuts.
On behalf of the Board of Directors of OrganiMax Nutrient Corp.,
"Brandon Rook"
Brandon Rook, President and Chief Executive Officer.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY 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 resul ts, and estimates of amounts not yet
determinable. 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 "forward-looking statements."
For further information please contact us @:
604-800-4710 or [email protected]