IC Potash Announces Results of 2013 Annual and Special Meeting of Shareholders
July 01, 2013 — (Source: Marketwired) — IC Potash Corp. (“ICP” or the “Company”) (TSX: ICP) (OTCQX: ICPTF) today announced the results of the voting at its annual and special meeting of shareholders (the “Meeting”), held on June 28, 2013 in Toronto, Ontario, Canada.
At the Meeting, all director nominees listed in the Company’s management information circular dated May 30, 2013 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|
|Honourable Pierre Pettigrew, P.C.||99,329,513||99.90||99,225||0.10|
|Ernest Angelo, Jr.||99,328,813||99.90||99,925||0.10|
|Kay Randall Foote||98,048,913||98.61||1,379,825||1.39|
|Knute H. Lee, Jr.||83,013,668||83.49||16,415,070||16.51|
In addition, at the Meeting, shareholders reappointed Davidson & Company LLP as auditors of the Company, and ratified and confirmed the adoption of amendments to the Company’s By-Law No. 1 to add an advance notice requirement for nominations of directors by shareholders in certain circumstances.
About IC Potash Corp.
ICP intends to become a primary producer of Sulphate of Potash (“SOP”) and Sulphate of Potash Magnesia (“SOPM”) by mining its 100%-owned Ochoa property in southeast New Mexico, a highly advanced polyhalite mineral deposit containing proven and probable reserves of more than 340 million tons of ore within the proposed mine plan. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of regular potash known as Muriate of Potash (“MOP”). MOP contains chloride and is therefore not the optimal potash for numerous crops and in situations where there is high soil salinity. ICP is focused on becoming the lowest cost producer of SOP in the world, a market that is towards six million tonnes per year. SOP is a significant fertilizer in horticultural industries, particularly fruits, vegetables, tobacco and potatoes. SOP is applicable for soils where there is substantial agricultural activity, high soil salinity, and in arid regions. SOPM is a highly desirable potash product for soils with magnesium deficiency, and has a total global market size of over one million tonnes. ICP’s Ochoa property consists 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. 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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