Potash One Inc.

Potash One Inc.

December 07, 2007 15:36 ET

ISX Changes Name to Potash One Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2007) - ISX Resources Inc. (the "Company") 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


Paul F. Matysek, M.Sc., P.Geo., President and Chief Executive Officer


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.

Contact Information

  • Potash One Inc.
    Paul F. Matysek
    President and Chief Executive Officer
    (604) 331-4431
    (604) 608-4979 (FAX)
    Email: info@potash1.com