IC Potash Announces Results of 2016 Annual Shareholders’ Meeting and Management Changes
IC Potash Corp. (TSX: ICP; OTCQX: ICPTF) (“ICP” or the “Company”) today announced the results of the
voting at its annual meeting of shareholders (the “Meeting”) held on June 28, 2016, in Toronto, Ontario, Canada.
At the Meeting, all director nominees listed in the Company’s management information circular dated May 28, 2016, were elected
as directors of the Company. The detailed results of the vote by ballot are as follows:
|
Election of
Directors
|
|
|
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# of Votes
For
|
|
|
|
|
% of Votes
For
|
|
|
|
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# of Votes
Withheld
|
|
|
|
|
% of Votes
Withheld
|
| John Stubbs |
|
|
|
|
114,301,541 |
|
|
|
|
99.96 |
|
|
|
|
43,611 |
|
|
|
|
0.04 |
| Hon. Pierre Pettigrew |
|
|
|
|
114,313,641 |
|
|
|
|
99.97 |
|
|
|
|
31,511 |
|
|
|
|
0.03 |
| Ernest Angelo Jr. |
|
|
|
|
114,288,916 |
|
|
|
|
99.95 |
|
|
|
|
56,236 |
|
|
|
|
0.05 |
| Knute H. Lee Jr. |
|
|
|
|
114,275,141 |
|
|
|
|
99.94 |
|
|
|
|
70,011 |
|
|
|
|
0.06 |
| Mehdi Azodi |
|
|
|
|
114,290,416 |
|
|
|
|
99.95 |
|
|
|
|
54,736 |
|
|
|
|
0.05 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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The number of directors was fixed at 5 for the ensuing year. George Poling, Anthony Grey, Joao Carrelo, and Leiv Erdal did not
stand for re-election. The Company gratefully acknowledges the contributions made by these directors.
Mr. Stubbs replaces Dr. Poling as Chairman of the Board of Directors of the Company.
In addition, at the Meeting, shareholders reappointed Davidson & Company LLP as auditors of the Company.
Further, the Company is pleased to announce that it has appointed Kevin Strong as Chief Financial Officer. He is replacing Ken
Kramer, who will lead the project operation in Hobbs, New Mexico. Given the announcement on June 2nd that ICP is focused
on the investigation of the direct Polyhalite option for the Ochoa project, Ken Kramer will dedicate his attention directly at the
project level.
About IC Potash Corp.
ICP has previously demonstrated a method to make Sulfate of Potash (“SOP”) from its 100%-owned Ochoa Polyhalite deposit in
Southeast New Mexico and is currently examining ways to become a low-cost fertilizer producer. The current review of ICP’s
existing feasibility report is being extended to determine a viable positive economic path to the production of direct application
Polyhalite. The Ochoa Project has access to excellent local labor resources, low-cost electricity and natural gas, water, rail
lines, and the Ports of Galveston and Houston, 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.
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, 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.
IC Potash Corp.
Mr. Mehdi Azodi, +1-416-779-3268
Chief Executive Officer
MAZODI@ICPOTASH.COM
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