IC Potash Corp. Commences Trading on OTCQX
10 1월 2011 - 9:00PM
PR Newswire (Canada)
TORONTO, Jan. 10 /CNW/ -- 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 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. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/January2011/10/c9348.html
pFor further information, please visit a
href="http://www.icpotash.com"www.icpotash.com/a or contact Sidney
Himmel at 1-416-624-3781./p
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IC Potash Corp. (TSXV:ICP)
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