TORONTO – (Business Wire) – December 19, 2016 – IC Potash Corp. (TSX: ICP; OTCQX: ICPTF) (“IC Potash” or the “Company”) is pleased to announce the addition of board members and an executive professional to lead the development of IC Potash into 2017.
Mr. Sidney Himmel, has been appointed Director of Intercontinental Potash Corp. (USA) (“ICPUSA”), a subsidiary of IC Potash. ICPUSA holds IC Potash’s Ochoa fertilizer asset located in New Mexico. Mr. Himmel founded IC Potash in 2007 and led the Company through to the end of feasibility. Recently Mr. Himmel has been a consultant in the fertilizer industry and has been active in financing development-stage companies. Mr. Himmel stated: “I am honored to be invited to become a member of the Board of Directors of ICPUSA. I am dedicated to working diligently to ensure optimal value recognition for all shareholders and stakeholders.”
Mr. Ernest Angelo Jr. will step down from the board of ICPUSA and will be a lead director at the IC Potash board. “Mr. Angelo has played a significant role in the development of the Ochoa project and will continue to play a vital role”. Stated Mehdi Azodi, President & CEO of IC Potash.
Mr. Grant Sawiak, has been added to the board of IC Potash. Mr. Sawiak has practiced securities law for the past four decades representing companies in numerous sectors around the world. Mr. Sawiak, now sits on the boards of both private and public companies assisting with their growth strategies, corporate governance and financings.
IC Potash has retained the services of Grit Capital, led by Ms. Genevieve Roch-Decter who will guide IC Potash in 2017 on various corporate advisory mandates.
“The addition of Sidney, Grant and Genevieve to the leadership team is a very positive step forward. These three professionals are well-respected in their fields and the very best at what they do and their efforts will be very valuable to all IC Potash shareholders” further commented Mehdi Azodi, President & CEO of IC Potash.
About IC Potash Corp.
IC Potash has previously demonstrated a method to make Sulfate of Potash (“SOP”) from its 100%-owned Ochoa polyhalite deposit in Southeast New Mexico and is currently examining ways to become a low-cost fertilizer producer. The current review of IC Potash’s existing feasibility study is being extended to determine a viable positive economic path to the production of direct application polyhalite. The Ochoa project has access to excellent local labor resources, low-cost electricity and natural gas, water, rail lines, and the Port of Galveston, Texas. IC Potash’s land holdings consist of nearly 90,000 acres of federal subsurface potassium prospecting permits and State of New Mexico potassium mining leases. For more information, please visit www.icpotash.com.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of IC Potash to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements include, without limitation, statements regarding trends in the markets for Sulfate of Potash and polyhalite, the completion of an update review of the feasibility study by the Company, the Company’s intention to investigate the feasibility of polyhalite product production and other statements that are not historical facts. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of IC Potash, including, but not limited to, changes in market trends, the completion, results and timing of studies undertaken by IC Potash, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the uncertainty of obtaining additional financing, and risks associated with turning reserves into product. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
For More Information, Please Contact:
IC Potash Corp.
Mr. Mehdi Azodi, +1-416-779-3268
Chief Executive Officer