Pacific Potash Undertakes Corporate Restructuring
VANCOUVER, Dec. 11, 2014 /CNW/ - Pacific Potash Corp. (TSX-V: PP) ("Pacific Potash" or the "Company") announces the resignation of Balbir Johal as CEO, Director and Executive Co-Chairman and the resignation of Bryce Clark as Director and CFO, effective immediately. The Company thanks both Mr. Johal and Mr. Clark for their contributions as officers and Directors of the Company.
The Company is also pleased to announce that Mr. Tao Lui, currently a director of the Company, will be assuming the role of CEO and will remain as executive Chairman. Mr. Charlie Cheng, who was recently appointed as COO and President, has been appointed to the Board of Directors.
As part of the corporate restructuring the Company plans to expand its technical team to add additional personnel with experience in potash exploration. In addition, the Company will be seeking to add additional directors to the Board, including members with potash exploration experience.
We seek safe harbour.
On behalf of the Board,
Pacific Potash Corporation
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Pacific Potash in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Pacific Potash's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Pacific Potash disclaims any obligation to update or revise any forward-looking information or statements except as may be required.
SOURCE Pacific Potash Corp.
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