Cartesian provides $2.5 mln to ICP-USA

Intercontinental Potash Corp has secured $2.5 million in funding from Cartesian. ICP-USA owns the Ochoa project in Lea County, New Mexico.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Cartesian Capital Group, LLC (“Cartesian”) announced that Intercontinental Potash Corp. (USA) (“ICP-USA”) received $2.5 million in funding from affiliates of Cartesian. ICP-USA is an affiliate of IC Potash Corp. (TSX:ICP) which previously announced a strategic investment commitment by Cartesian of up to $45 million. To date, Cartesian has funded $17.5 million to ICP-USA.

Peter Yu, Managing Partner of Cartesian, said: “We appreciate the efforts of Graham Wheelock and the key suppliers to ICP-USA to further develop the innovative Ochoa Project as a source of direct application polyhalite as an organic multi-nutrient fertilizer.”

About Cartesian Capital Group
Cartesian Capital Group, LLC is a global private equity firm with proven expertise in assisting closely-held companies to expand internationally. Cartesian manages more than $2.4 billion in capital and has offices in New York, Sao Paulo, Shanghai, Warsaw, and Bermuda.