TORONTO, ONTARIO–(Marketwired – May 2, 2016) – Potash Ridge Corporation (“Potash Ridge”) (TSX:PRK) (OTCQX:POTRF), a near term producer of premium fertilizer in North America, is pleased to announce the appointment of Robert (“Bob”) Cross as a corporate advisor. Mr. Cross brings with him a wealth of experience in executive leadership in the natural resource sector and significant capital markets experience.
Guy Bentinck, Potash Ridge’s President and Chief Executive Officer, commented, “We are very pleased to have Bob join our team. Potash Ridge is at a critical stage in its life cycle as we advance the world-class, essentially permitted Blawn Mountain Sulphate of Potash (“SOP”) Project and near-term Valleyfield SOP Project through financing, construction and production. Bob’s interest in Potash Ridge is a significant endorsement of both projects.”
Bob Cross stated, “I am excited to be a significant shareholder of Potash Ridge and to be able to assist with the business strategy and execution of financing as the Company endeavors to become the first producer of SOP in North America at Valleyfield via the Mannheim process, and to also become the largest SOP producer via the flagship Blawn Mountain Project in Utah. SOP is the optimal potassium fertilizer for crops worldwide, and has become one of the world’s best performing commodities over the past 5 years. The timing is right for the rapid development of these assets.”
Mr. Cross has more than 25 years of experience as a financier in the natural resource sector. He is a co-founder and Non-Executive Chairman of Bankers Petroleum Ltd., and is a co-founder and Non-Executive Chairman of B2Gold Corp. Mr. Cross was also a director of Athabasca Potash Inc. from 2009 until 2010 when Athabasca was sold to BHP Billiton Canada Inc. He also served as the Non-Executive Chairman of Northern Orion Resources Inc. between 2002 and 2007. Between 1995 and 1998, Mr. Cross was President and then Chairman and Chief Executive Officer of Yorkton Securities Inc. From 1987 to 1994, he was a Partner, Investment Banking with Gordon Capital Corporation in Toronto. He has an Engineering Degree from the University of Waterloo, and received his MBA from Harvard Business School in 1987.
About Potash Ridge
Potash Ridge’s strategy is to become a premier producer of sulphate of potash or SOP in North America. The Corporation owns two SOP projects: the Valleyfield Project that plans to produce SOP through the Mannheim Process; and the Blawn Mountain Project in Utah that plans to produce SOP by processing an alunite material. Potash Ridge has a highly qualified and proven management team in place with significant financial, project management and operational experience and the ability to take projects into production.
This press release contains forward-looking statements, which reflect the Corporation’s expectations regarding future growth, results of operations, performance and business prospects. These forward-looking statements may include statements that are predictive in nature, or that depend upon or refer to future events or conditions, and can generally be identified by words such as “may”, “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “guidance” or similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These statements are not historical facts but instead represent the Corporation’s expectations, estimates and projections regarding future events. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: the future financial or operating performance of the Corporation and its subsidiaries and its mineral projects; the anticipated results of exploration activities; the estimation of mineral resources; the realization of mineral resource estimates; capital, development, operating and exploration expenditures; costs and timing of the development of the Corporation’s mineral projects; timing of future exploration; requirements for additional capital; climate conditions; government regulation of mining operations; anticipated results of economic and technical studies; environmental matters; receipt of the necessary permits, approvals and licenses in connection with exploration and development activities; appropriation of the necessary water rights and water sources; changes in commodity prices; recruiting and retaining key employees; construction delays; litigation; competition in the mining industry; reclamation expenses; reliability of historical exploration work; reliance on historical information acquired by the Corporation; optimization of technology to be employed by the Corporation; title disputes or claims and other similar matters.
If any of the assumptions or estimates made by management prove to be incorrect, actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained herein. Such assumptions include, but are not limited to, the following: that general business, economic, competitive, political and social uncertainties remain favorable; that agriculture fertilizers are expected to be a major driver in increasing yields to address demand for premium produce, such as fruits and vegetables, as well as diversified protein rich diets necessitating grains and other animal feed; that actual results of exploration activities justify further studies and development of the Corporation’s mineral projects; that the future prices of minerals remain at levels that justify the exploration and future development and operation of the Corporation’s mineral projects; that there is no failure of plant, equipment or processes to operate as anticipated; that accidents, labour disputes and other risks of the mining industry do not occur; that there are no unanticipated delays in obtaining governmental approvals or financing or in the completion of future studies, development or construction activities; that the actual costs of exploration and studies remain within budgeted amounts; that regulatory and legal requirements required for exploration or development activities do not change in any adverse manner; that input cost assumptions do not change in any adverse manner, as well as those factors discussed in the section entitled “Risk Factors” in the Corporation’s Annual Information Form (AIF) for the year-ended December 31, 2014 found on sedar.com. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.