ISX Changes Name to Potash One Inc.
07 Diciembre 2007 - 2:36PM
Marketwired
VANCOUVER, BRITISH COLUMBIA is pleased to announce that its name
has changed to Potash One Inc. (TSX VENTURE: KCL). The name change
was approved at the Annual and Special Shareholders' meeting held
on November 21, 2007 to better reflect the ongoing business and
operational focus of the Company which is the development of potash
deposits.
The Company also reports that it successfully secured the
trading symbol, "KCL" (effective December 6, 2007), which
accurately describes the nature of the Company's operations. KCL
denotes the chemical compound "potassium chloride" also commonly
known as muriate of potash. "KCl" is the most common chemical
compound when referring to potash, which is one of the key
ingredients in fertilizers for plants.
With the recent appointment of Mr. Paul Matysek as the new CEO
and President and the name change, the Company is now solely
focused on developing its significant potash property in southern
Saskatchewan, the largest potash producing region in the world. The
Company controls over 97,000 acres of previously explored
potash-bearing property which is directly adjacent to a large
potash producing mine to the south of the Company's property. The
Legacy Project shares the same geological structure with this
currently producing potash solution mine.
Potash One's Legacy Project in Saskatchewan was previously
explored by Imperial Oil Ltd. (now Exxon) and Lumsden Potash
Corporation.
The 43-101 report completed earlier in 2007 confirms 40 million
tonnes in indicated resource category and 390 million tonnes in
inferred resources. The grades are consistent ranging between 19%
and 22% of K2O.
The Company entered the potash sector early in 2005 before the
potash prices started their current uptrend. The market
fundamentals such as rise in demand for agricultural goods for food
and biofuels are expected to remain strong and even grow stronger.
This demand is driven by continuing growth in emerging economies
such as China and India where the quality and quantity of food
consumption is on the rise. A new source of demand for fertilizers,
thus potash, also comes from the use of grains for biofuels such as
ethanol. On the other hand, the arable land worldwide is rapidly
shrinking. These factors put an upward pressure on demand, driving
potash prices to record levels in the recent months.
Paul Matysek, the Company's President and Chief Executive
Officer, stated: "This is an excellent time to be in the potash
industry. We are very pleased that we could secure a company
defining trading symbol, "KCL", which clearly reflects our
commodity focus. The new name and symbol affords Potash One the
opportunity to create strong brand recognition in the fertilizer
market and investment world. We are in the best potash producing
area of the world with an established infrastructure that will
significantly facilitate our development plans. Potash One is
already conducting a number of technical and financial studies that
will allow us to advance our previously explored potash project to
the next development stage."
Notice to Shareholders
The common shares of the Company are trading as of December 6,
2007 under the new trading symbol KCL and new Cusip No. 73755F100
and ISIN No. CA 73755F1009.
In connection with the Company's name change, the Company has
adopted a new form of share certificate showing the new name, Cusip
number and ISIN number. New share certificates will be issued in
the normal course further to share transfers and other share
transactions. In the meantime, share certificates showing the
former name of ISX Resources Inc. will continue to represent the
common shares of the Company and it will not be necessary for you
to exchange your existing share certificates for new share
certificates. Should you wish to obtain the new form of share
certificate, however, you may do so by submitting your existing
share certificate to the company's transfer agent, as follows:
Computershare Investor Services Inc., Third Floor,
510 Burrard Street, Vancouver, BC V6C 3B9
Attention: Stock Transfer Department
ON BEHALF OF THE BOARD OF DIRECTORS
Paul F. Matysek, M.Sc., P.Geo., President and Chief Executive
Officer
About POTASH ONE Inc.
POTASH ONE Inc. is a Canadian potash company engaged in the
identification, acquisition, exploration and development of
advanced resource properties. The Company has a solid balance sheet
and experienced technical and corporate management to advance its
current project to the next level. The primary interests of the
Company include an option to acquire 100% interest in a 97,240 acre
Potash Subsurface Exploration permit in Saskatchewan, Canada.
Forward Looking Statement
This release includes certain statements that may be deemed to
be "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. All statements in
this release, other than statements of historical facts, that
address further production, reserve potential, exploration and
development activities and events or developments that the Company
expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions such statements are
not guarantees of further performance, and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, exploration and development successes,
continued availability of capital and financing, and general
economic, market or business conditions. Please see our public
filings at www.sedar.com for further information.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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Contacts: Potash One Inc. Paul F. Matysek President and Chief
Executive Officer (604) 331-4431 (604) 608-4979 (FAX) Email:
info@potash1.com
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