TORONTO – (Marketwire) – July 12, 2012 – IC Potash Corp. ("ICP" or the "Company") (TSX: ICP, OTCQX: ICPTF) today announced that it has named Hanover▪Elite as the Company’s Investor and Public Relations counsel of record.
Formed in early 2012, Hanover▪Elite is a joint venture created by Hanover International, Inc. and Elite Financial Communications Group, who have teamed to leverage their respective strengths, resources and spheres of influence on Wall Street to create an innovative IR/PR model for merging and applying best industry practices in financial communications, corporate branding and awareness, regulatory compliance and corporate finance advisory services.
Working in close collaboration with Lisa Faiella, ICP’s Vice President of Investor Relations, Hanover▪Elite is charged with developing, implementing and supporting a fully integrated corporate and shareholder communications platform for the Company; and generating meaningful awareness among and measurable support from the global retail and institutional investment communities for ICP, its mission to become the world’s lowest cost producer of Sulphate of Potash (SOP), and its well defined business plan and execution strategy. Specific emphasis will be focused on expanding awareness and market support of ICP among investors and investment professionals within the U.S. investment community. Jim Hock, CEO of Hanover, and Dodi Handy, CEO of Elite, will lead the combined IR/PR teams and provide ICP strategic counsel and direction.
“According to many leading economists, the central challenge for all of us over the next several decades is not climate change or the global financial crisis, it is whether we can achieve and sustain the enormous harvest we need from our planet to feed ourselves. To do that, we must grow more food by increasing yields on the world’s arable lands; thus the reason the experts agree that already compelling global demand for potash-rich fertilizers will continue to skyrocket,” stated Handy, “Given its success to date in executing its plan to become one of the leading suppliers of premium-grade potash products produced from its Polyhalite Ochoa property in New Mexico, IC Potash presents a highly attractive, long term investment opportunity for retail and institutional investors, alike. Hanover▪Elite is very pleased to be teaming with ICP and looks forward to winning the Company the global market attention and appreciably higher market valuation it deserves to command.”
About Hanover International, Inc.
Led by James E. Hock – broadly recognized as “the entrepreneur’s consultant” and current Co-Chairman of the National Investment Banking Association, Hanover International has advised hundreds of micro-, small- and mid-cap companies since its founding in 1990 with defining and implementing effective mergers and acquisitions and institutional shareholder relations strategies. With offices in Los Angeles, New York and Beijing, Hanover International is comprised of a professional team of experts in the areas of investment banking, debt and equity deal structuring, market awareness and support, SEC law and compliance, mergers and acquisitions, market research and analysis, corporate management and new business development.
About Elite Financial Communications Group
Since 2001, Elite has combined diverse business expertise, influence, talent and capabilities to achieve quantifiable results for emerging publicly traded and privately held companies. Elite works closely with its clients to customize and implement fully integrated marketing and communications strategies and programs designed to achieve optimal transparency and proactive communications with shareholders and the investment community at large. Through Elite Media Group, the Company teams with its valued clientele to realize business and performance objectives through initiatives that leverage public and media relations, social networking, brand and reputation management, event planning, crisis management and government relations. Elite also provides copywriting, collateral development and production, formal media training and market trend analysis, among other traditional and new media services. For more information, please visit www.efcg.net or follow on Twitter: @EliteFinancial.
About IC Potash Corp.
ICP intends to become a primary producer of Sulphate of Potash ("SOP") and Sulphate of Potash Magnesia ("SOPM") by mining its 100%-owned Polyhalite Ochoa property in New Mexico, a highly advanced mineral deposit containing proven and probable reserves of more than 400 million tons of ore within the proposed mine plan. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of regular potash known as Muriate of Potash ("MOP"). MOP contains chloride and is therefore not the optimal potash for numerous crops and in situations where there is high soil salinity. ICP is focused on becoming the lowest cost producer of SOP in the world. The SOP market is towards six million tonnes per year. SOP is a significant fertilizer in the fruit, vegetable, tobacco, potato, and horticultural industries. SOP is also applicable in soils where there is substantial agricultural activity with varieties of crops and therefore where the salinity of the soil has increased, and in areas where soils are dry. SOPM is a highly desirable potash product for soils with magnesium deficiency, including those found in Europe and Southeast Asia and has a total global market size of over one million tonnes. ICP's Ochoa property consists of over 100,000 acres of federal subsurface potassium prospecting permits and State of New Mexico Potassium mining leases. For more information, please visit www.icpotash.com.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. 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, and the uncertainty of obtaining additional financing. 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.
FOR MORE INFORMATION, PLEASE CONTACT:
Dodi Handy or Kathy Addison
407-585-1080 or via email at ICP@efcg.net