TORONTO - (Business Wire) -May 19, 2016 - IC Potash Corp.(TSX: ICP; OTCQX: ICPTF) ('ICP' or the 'Company') is pleased to announce that it has appointed Mehdi Azodi Interim Chief Executive Officer. Mr. Azodi has served as the Company's Director of Investor Relations since 2013 and has over 15 years of experience in capital markets, acting as a consultant to a number of private and TSX/NYSE-listed companies to provide business consulting, and capital markets strategy. He replaces Randy Foote, who is retiring. Mr. Foote will continue to share his operations expertise on a consulting basis.
George Poling, Chairman of the Board of Directors of ICP, stated 'We are delighted to have Mr. Azodi head the ICP team. We believe his leadership and commitment to financing the Company will help it to position it for the next phase of its operations.'
About IC Potash Corp.
ICP has demonstrated a low-cost method to produce sulfate of potash ('SOP') from its 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 is 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 receipt of exchange approval 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.
MORE INFORMATION, PLEASE CONTACT:
IC Potash Corp.
Mr. Mehdi Azodi, +1-416-779-3268
President and Chief Executive Officer
[email protected]