TORONTO, Jan. 10 /PRNewswire/ - 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 requirements.
About 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 otherwise.
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.
Copyright . 10 PR Newswire
