Athabasca Potash Inc.

Athabasca Potash Inc.

March 18, 2010 07:00 ET

Athabasca Potash Inc. Announces Voting Results

SASKATOON, SASKATCHEWAN--(Marketwire - March 18, 2010) - Athabasca Potash Inc. (TSX:API) -

Athabasca Potash Inc. ("API") announced today that the holders of API common shares and options (collectively, the "Securityholders") voted 99.84% in favour of an arrangement pursuant to section 186.1 of The Business Corporations Act (Saskatchewan) at a special meeting of the API Securityholders held on March 17, 2010. Holders of API common shares, counted separately, voted 99.82 % in favour of the arrangement. 

Pursuant to the arrangement, as set out in the Management Information Circular dated February 9, 2010, BHP Billiton Canada Inc. ("BHP Billiton") will acquire all of the issued and outstanding common shares of API for $8.35 cash per common share. All of the unexercised options outstanding at the time of the arrangement will be cancelled for a cash payment in respect of each option equal to the amount by which $8.35 exceeds the exercise price of the option (less applicable withholding tax). API and BHP Billiton will apply for the final order to the Court of Queen's Bench for Saskatchewan on March 19, 2010 and expect to close the transaction on March 23, 2010 and shortly thereafter the common shares will be de-listed from the Toronto Stock Exchange within several trading days following the close of the transaction. 

Further information on API can be found at

Caution Regarding Forward-Looking Information

The information in this document contains certain forward-looking statements with respect to API and the completion of the arrangement with BHP Billiton. These statements are often, but not always, made through the use of words or phrases such as "expect", "should", "continue", "believe", "anticipate", "suggest", "estimate", "contemplate", "target", "plan", "budget", "may", "will", "schedule" and "intend" or similar formulations. By their nature, these forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant, known and unknown, business, economic, competitive and other risks, uncertainties and other factors affecting API specifically or its industry generally that could cause the actual performance, achievements and financial results to differ materially from past results and from those expressed in any forward-looking statements made by or on behalf of API. These risks and uncertainties relate to such factors as the receipt of required stock exchange and regulatory approvals, political and economic conditions, commodity prices, and other factors. In view of these uncertainties we caution readers not to place undue reliance on these forward-looking statements. Statements made in this document are made as of the date hereof and API disclaims any intention or obligation to update or revise any statements made herein, whether as a result of new information, future events or otherwise.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

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