IC Potash Corp. has announced that it has received further funding from Cartesian Capital to advance the development of the Ochoa project. 710 000 common shares of Intercontinental Potash Corp. have been issued for proceeds of US$360 000.
Mehdi Azodi, President & CEO of IC Potash stated:
“The rapid development of the Ochoa project continues to demonstrate that it can become a low-cost producer of Polyhalite with robust development economics based on the work study completed to date. Current negotiations are in progress, which could account for approximately half of the scheduled off-take from the Ochoa deposit. Current production from Israeli Chemical and the development of Sirius Minerals highlight the growing demand for Polyhalite globally.”
In preparation for the development of the Ochoa deposit and the announcement of the Feasibility Study, IC Potash is pleased to announce the following appointments to the board of ICPUSA.
Mr. Grant Sawiak will join the board of ICPUSA and resigns from his current role at IC Potash Corp. Mr. Sawiak, has over 30 years of experience in all avenues of securities law and is going to focus directly on the development, strategic financing and corporate governance of the Ochoa project to ensure maximum value is attained for all stakeholders and shareholders.
Mr. Lew Lawrick has also been appointed to the board of ICPUSA, to assist in accelerating the development of the Ochoa deposit. Mr. Lawrick, as Managing Partner of Thorsen-Fordyce Merchant Capital Inc., has over 20 years of capital markets experience investing in and financing junior mining and exploration companies through all stages of development.
“The addition of Grant Sawiak & Lew Lawrick to the board of ICPUSA represents the strong commitment to all shareholders of the Ochoa project. Mr. Sawiak & Mr. Lawrick are highly respected professionals in the legal and mining community, known to be very tough advocates of shareholder rights. It’s a great opportunity for all stakeholders and shareholders of IC Potash to have their support,” Azodi stated.
Mr. John Stubbs, Chairman of the Company, continues to maximise shareholder value and further evaluate assets and opportunities the company may consider. Mr. Stubbs shall resign from the board of ICPUSA and continue as lead director of the company and a strong contributor to the advancement and restructuring of the company.
Mr. Sidney Himmel has played the most significant role in the development of the Ochoa project over the past decade. Mr. Himmel will resign from the board of ICPUSA and act as an advisor to the company. All stakeholders are grateful for the continued support and dedication of Mr. Himmel.
Read the article online at: https://www.globalminingreview.com/finance-business/29032017/ic-potash-appoints-two-new-board-members/