TORONTO – (Business Wire) – May 19, 2015 – IC Potash Corp. (TSX: ICP; OTCQX: ICPTF) (“ICP” or the “Company”) advises that it has received notice from Resource Capital Fund V L.P. (“RCF”) regarding RCF’s intention to nominate its independently selected representatives to the Board of Directors of the Company. This information was received on Thursday, May 14, 2015.
Based on this development, the Company is revising its Management Information Circular to provide all relevant information to shareholders. Further, the Company advises that the previously announced annual shareholders’ meeting (“Meeting”) scheduled for June 17, 2015 has been deferred to June 30, 2015. The date of the Meeting has been changed in order to provide shareholders with sufficient time to study all relevant issues before voting.
Dr. George Poling, Chairman
On behalf of the IC Potash Corp. Board of Directors
About IC Potash Corp.
ICP has demonstrated a low-cost method to produce sulfate of potash (“SOP”) from its 100%-owned Ochoa polyhalite deposit in southeast New Mexico and seeks to become a primary, long-term producer of SOP. SOP is a non-chloride potash fertilizer widely used in the horticultural industry and for high value crops, such as fruits, vegetables, tobacco and potatoes. It is applicable for soils where there are substantial agricultural activity, high soil salinity, and in arid regions. The Ochoa Project has access to excellent local labor resources, low-cost electricity and natural gas, an approved non-potable water source, rail lines, and the Port of Galveston, Texas. ICP’s land holdings consist of approximately 98,500 acres of federal preference right potassium leases, 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 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, the need for additional mine development expertise in management, 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 hiring and retaining personnel, 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:
Mr. Sidney Himmel
President and Chief Executive Officer