TORONTO, Jan. 10 /CNW/ - IC Potash Corp. ("ICP" or the "Company") (TSXV: ICP, OTCQX: ICPTF) announced today that its common shares have commenced trading on OTCQX
International, the highest tier of the OTC market in the United States,
under the symbol "ICPTF", on January 7, 2011. ICP's common shares will
continue to trade on the TSX Venture Exchange under the symbol "ICP".
ICP expects to benefit from being listed on OTCQX alongside many
internationally respected corporations by gaining greater exposure and
liquidity in the United States, where the Ochoa Sulphate of Potash New
Mexico project is located.
"We believe this listing will provide a convenient and transparent forum
for United States investors to access ICP's growing market, and will
provide widespread awareness of the Company's ongoing developments and
progress," said Sidney Himmel, ICP's President and Chief Executive
Officer. He continued: "Since the primary assets of the Company are
located in the United States, listing the Company on the OTC
facilitates greater ease of trading and expands our exposure to
additional investors resident in the world's largest equity market."
Dorsey & Whitney LLP will serve as the Company's Principal American
Liaison (PAL) on OTCQX, responsible for providing guidance on OTCQX
The OTCQX marketplace is the premier tier of the U.S. OTC market and
provides a gateway to U.S. securities markets for international
companies that are otherwise listed on qualified exchanges not resident
in the United States. Only companies that have a substantial operating
business and that provide credible, ongoing disclosure to the public
are eligible for admission to OTCQX. Investor-focused companies use
the quality controlled OTCQX listing platform to offer investors
transparent trading, superior information, and easy access through
their regulated U.S. broker-dealers. OTCQX is fully electronic and
gives investors access through all major online and full-service
brokerage firms in the United States, include Schwab, E*TRADE,
Scottrade, TD Ameritrade, and Fidelity. Trades are settled and cleared
in the United States and trade reports are disseminated publicly
through financial data providers. Investors can view Real-Time Level 2
Quotes for all OTCQX companies in their web site www.otcqx.com providing access to detailed market data, including market depth.
About IC Potash Corp.
IC Potash intends to become a primary producer of Sulphate of Potash
("SOP") by mining its 100%-owned potash Ochoa property in New Mexico.
SOP is a non-chloride based potash fertilizer that sells at a
substantial premium over the price of Muriate of Potash ("MOP").
Typically SOP sells at a premium of 50% to MOP. ICP is focused on being
the lowest cost producer of SOP in the world. The SOP market is six
million tonnes per year. 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 much
agriculture with varieties of crops. Much of the agricultural soil in
China, India, and the United States is salty. ICP's Ochoa property
consists of over 100,000 acres of federal subsurface potassium
prospecting permits and State of New Mexico Potassium mining leases.
Forward-Looking Statements and Information
This press release contains forward-looking statements within the
meaning of the United States securities law and forward-looking
information within the meaning of Canadian securities laws. All
statements, other than statements of historical facts, included in this
press release that address activities, events or developments that ICP
expects or anticipates will or may occur in the future, are
forward-looking statements and forward-looking information. When used
in this press release, the words "optimistic", "potential", "indicate",
"expect", "intend", "hopes," "believe," "may," "will," "if,
"anticipate" and similar expressions are intended to identify
forward-looking statements and forward-looking information. These
statements involve known and unknown risks, 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 statements. Such factors
are discussed under the headings "Uncertainty of Forward-Looking
Statements" and "Risk Factors" in ICP's Annual Information Form, dated
April 15, 2010, filed with the Canadian Securities Administrators and
available at www.sedar.com. ICP has attempted to identify important factors that could cause
actual results to differ materially from those described in
forward-looking statements and forward-looking information, there may
be other factors that cause results not to be as anticipated, estimated
or intended. Except as required by law, ICP assumes no obligation to
publicly update any forward-looking statements or forward-looking
information; whether as a result of new information, future events or
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE IC Potash Corp.
For further information:
For further information, please visit www.icpotash.com or contact Sidney Himmel at 1-416-624-3781.