IC Potash announces strategic investment and off-take agreement
IC Potash Corp. ("ICP" or the "Company") (TSX: ICP.TO ) (OTCQX: ICPTF.PK ) is pleased to announce that Yara International ASA ("Yara"), through a wholly owned subsidiary, has agreed to make a strategic investment of approximately C$40 million in ICP at a price of $1.32 per common share and has entered into a committed off-take agreement for the purchase of 30% of all products produced by ICP's Ochoa project in New Mexico for a period of 15 years. ICP and Yara have also agreed to discuss the possibility of establishing a jointly held entity for the purpose of marketing products produced by the Ochoa project.
- Published: 02 April 2012
- Written by Editor