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IC Potash announces results of 2016 annual shareholders’ meeting and management changes

TORONTO – (Business Wire)  June 29, 2016 – IC Potash Corp. (TSX: ICP; OTCQX: ICPTF) (“ICP” or the “Company”) today announced the results of the voting at its annual meeting of shareholders (the “Meeting”) held on June 28, 2016 in Toronto, Ontario, Canada.

At the Meeting, all director nominees listed in the Company’s management information circular dated May 28, 2016 were elected as directors of the Company. The detailed results of the vote by ballot are as follows:

Election of
Directors
# of Votes
For
% of Votes
For
# of Votes
Withheld
% of Votes
Withheld

John Stubbs

114,301,541 99.96 43,611 0.04

Hon. Pierre Pettigrew

114,313,641 99.97 31,511 0.03

Ernest Angelo Jr.

114,288,916 99.95 56,236 0.05

Knute H. Lee Jr.

114,275,141 99.94 70,011 0.06

Mehdi Azodi

114,290,416 99.95 54,736 0.05


The number of directors was fixed at 5 for the ensuing year. George Poling, Anthony Grey, Joao Carrelo, and Leiv Erdal did not stand for re-election.  The Company gratefully acknowledges the contributions made by these directors.

Mr. Stubbs replaces Dr. Poling as Chairman of the Board of Directors of the Company.

In addition, at the Meeting, shareholders reappointed Davidson & Company LLP as auditors of the Company.

 

Further, the Company is pleased to announce that it has appointed Kevin Strong as Chief Financial Officer.  He is replacing Ken Kramer who will lead the project operation in Hobbs, New Mexico. Given the announcement on June 2nd that ICP is focused on the investigation of the direct Polyhalite option for the Ochoa project, Ken Kramer will dedicate his attention directly at the project level.
 
About IC Potash Corp. 
ICP 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 ICP’s existing feasibility report 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 Ports of Galveston and Houston, Texas.  ICP’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

Forward-Looking Statements 
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 ICP 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, reserve estimates, ICP’s expected position as one of the lowest cost producers of SOP in the world, the timing of receipt and publication of ICP’s environmental permits, the sufficiency of ICP’s cash balances, the timing of 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 ICP, including, but not limited to, 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
MAZODI@ICPOTASH.COM