IC Potash Corp. has reported that it has agreed to accept US$2.5 million under the proposed amendment in the strategic investment commitment by Cartesian Capital Group LLC of up to US$45 million, as previously announced.
Cartesian agreed to make the strategic investments in IC Potash’s subsidiary, Intercontinental Potash Corp. The investment represents Cartesian’s continued support in the Ochoa project. To date Cartesian has funded US$17.5M into the development of the Ochoa project.
“The positive results of the independent Canadian National Instrument 43-101 compliant (NI 43-101) Preliminary Economic Assessment announced earlier this month have encouraged the continued investment in the Ochoa polyhalite deposit. The Ochoa project is a very strategic asset in the development of polyhalite in the United States,” IC Potash President and CEO, Mehdi Azodi, stated.
Read the article online at: https://www.worldfertilizer.com/potash/22112016/ic-potash-corp-continues-cartesian-partnership/