TORONTO -- (Business Wire)
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.
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, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150519005472/en/
Contacts:
IC Potash Corp.
Jennifer Ito, 720-633-9005
jito@icpotash.com
or
Sidney
Himmel, 720-633-9005
Source: IC Potash Corp.
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