Appointment of Mr. Duane Parnham as Independent DiHeadline: IC Potash Appoints Mr. Duane Parnham as Independent Director
Symbol: ICP
TORONTO, July 20, 2011 /CNW/ - IC Potash Corp. (TSX: ICP) (OTCQX:
ICPTF), the New Mexico based Sulphate of Potash (SOP) development
company, announced today that Mr. Duane Parnham has joined the Board of
IC Potash effective immediately. Mr. Parnham is an experienced business
professional and entrepreneur with decades of experience operating
resource focused companies. Sidney Himmel, CEO and Director of IC
Potash commented, "We are delighted to have Mr. Parnham join our Board
of Directors. Mr. Parnham brings a wealth of knowledge, experience and
international contacts to IC Potash, and I am confident his managerial,
technical and financial expertise will have an immediate effect on
achieving effective market valuation as we advance the Ochoa potash
project and begin marketing to an international investment audience."
Mr. Parnham has a successful track-record of developing companies from
start-ups to fully permitted projects with considerable resources and
reserves. This experience includes working internationally with
governments, landowners, and financial institutions to identify high
impact and underdeveloped projects. Currently Executive Chairman of
Giyani Gold Corp. and Director of Angus Mining (Namibia) Inc., he was
most recently the Executive Chairman of UNX Energy Corp., a company
that he founded and sold to joint venture partner HRT Participações em
Petróleo S.A of Brazil for $730 million. Mr. Parnham previously served
as Founding Officer and Director for Forsys Metals Corp. and Temex
Resources Corp.
About IC Potash Corp.
IC Potash Corp. intends to become a primary producer of Sulphate of
Potash ("SOP") by mining its 100%- owned potash Ochoa property in New
Mexico. IC Potash's Ochoa property consists of over 100,000 acres of
federal subsurface potassium prospecting permits and the State of New
Mexico Potassium mining leases.
IC Potash is focused on being the lowest cost producer of SOP in the
world, a market that is six million tonnes per year and growing. SOP is
a non-chloride based potash fertilizer that sells at a substantial
premium (50% on average) over the price of Muriate of Potash ("MOP"),
the most widely used fertilizer in the world.
SOP is a significant fertilizer in the fruit, vegetable, tobacco,
potato, and horticultural industries, and for agriculture in saline and
dry soils and soils in which there is agriculture with varieties of
crops.