potash or pothole, page-8

So what's changed...

Feb 2

Fortis is pleased to advise that it has entered into a strategic partnership alliance with Hong Kong investment company Grand Concord Investments Ltd... Madam Cheung... Kwan Cheung Winning Holdings!

As a further commitment to the strategic relationship, Madam Cheung agreed to subscribe for 6,000,000 fully paid ordinary shares in Fortis at a premium price of $0.40 per share. The terms of the subscription are set out in a share subscription agreement and provide for as follows:

* 2,000,000 shares at $0.40 each (raising $800,000) to be issued immediately upon receipt of payment using the 15% rule exemption under ASX Listing Rule 7.1;
and

* 4,000,000 shares at $0.40 each (raising $1,600,000) to be issued immediately following approval from shareholders to issue the 4,000,000 shares to Madam Cheung at a general meeting to be convened before 30 March 2011...

March 7

whoops sorry, forgot to ask s/holders before dishing out 5.9 mil of this issue but it's ok we're still gonna need your approval for the remaining 100k as per listing rule 7.4
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Feb 22

"The Board of Fortis is pleased to announce that it has signed a legally binding Heads of Agreement to acquire a 75% shareholding in Hong Kong based company, Ji'an Resources Investments Limited." ~ Ji'an Resources is a bvi shell listing registered January 2011

"The benefit of the Ji'an Resources acquisition to the Company and shareholders arises from a contract under which Ji'an Resources has the right purchase 100% of the shares in Wiyot SA, a Panamanian company. Wiyot SA owns 95% of the shares in Bates Potash Co., Limited who, in turn, holds 100% of the proprietary and legal rights to two Kazakhstan Potash assets.

March 24,

Firstly FMJ were cheering the idea of acquiring 2 world class potash mines for a cool $1mil + 40Mil shares (@ today's sp = $96mil), so let's say $97mil to Ji'an who had the rights to purchase 100% of the shares in Wiyot SA, a Panamanian company. Wiyot SA owns 95% of the shares in Bates Potash Co., Limited who, in turn, holds 100% of the proprietary and legal rights to two Kazakhstan Potash assets.

Interestingly Ji'an Resourses, Wiyot SA and Bates Potash Co are all shell company's offering no available information on Directors, share holders or assets owned.

Would love to know who recently registered all of the above Jitto.

The Company now tells us they're acquiring the Chelkar and Zhilyanskoe Salt Deposits indirectly by buying a 75% holding in Ji'an Resources, which will own 100% of Wiyot SA, the owner of 100% of Aktobe TUZ, which owns 95% of Batys Kaliy LLC, the direct owners of the mines.

The transaction results into a 71.25% ownership of Batys Kaliy LLC?

What happened Bates Potash Ltd? Weren't they the owners 3 weeks ago?

Imho I thought $100mil to this unknown bvi shell coy Ji'an was a bit over the top but additional $260mil to secure a no JORC compliant resource rings a couple more alarms bells.

Somebody's being punked but not me this time.

Also interesting to note a footer on page 8 of todays Ann:

ASX
The ASX takes no responsibility for the content of this announcement.