IC Potash Announces Results of 2014 Annual Meeting of Shareholders
June 2, 2014 (Source: Marketwired) — IC Potash Corp. (“ICP” or the “Company”) (TSX: ICP) (OTCQX: ICPTF) today announced the results of the voting at its annual general meeting of shareholders (the “Meeting”), held on May 30, 2014 in Toronto, Ontario, Canada.
At the Meeting, all director nominees listed in the Company’s management information circular dated May 1, 2014 were elected as directors of the Company. The detailed results of the vote by ballot are as follows:
|# OF VOTES FOR||% OF VOTES FOR||# OF VOTES WITHHELD||% OF VOTES WITHHELD|
|Election of Directors|
|Ernest Angelo, Jr.||106,625,596||99.88||130,725||0.12|
|Kay Randall Foote||104,770,596||98.14||1,985,725||1.86|
|Knute H. Lee, Jr.||106,612,796||99.87||143,525||0.13|
|Honourable Pierre Pettigrew, P.C.||106,623,096||99.88||133,225||0.12|
In addition, at the Meeting, shareholders reappointed Davidson & Company LLP as auditors of the Company.
About IC Potash Corp.
ICP has demonstrated a low-cost method to produce Sulphate of Potash (“SOP”) from its 100%-owned Ochoa polyhalite deposit in southeast New Mexico. The Company goal is to become a primary, long-term producer of SOP. The global market for SOP is 5.5 million tons per year, with producers benefiting from substantial price premiums over regular potash, known as Muriate of Potash (“MOP”). 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, water, rail lines, and the Port of Galveston, 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.
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.
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