New Earth Potash Corp.

September 07, 2011 17:44 ET

New Earth Announces Appointment of CEO and Special Shareholders' Meeting

WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - New Earth Potash Corp. ("New Earth" or "the Company") is pleased to announce a major step in the development of New Earth's potash project through the appointment of Mr. Guy Bentinck as President and Chief Executive Officer.

Mr. Bentinck has more than 20 years experience working in the resources and mining sectors. He is a Chartered Accountant and holds a M.A. in Accounting and Economics from the University of Aberdeen, Scotland. Mr. Bentinck previously worked for Sherritt International Corporation, where he held a number of senior executive positions. Between March 2004 and November 2007 he served as Sherritt's Senior Vice President and Chief Financial Officer. During this period, he played a major role in executing Sherritt's value-creation strategy through organic growth, strategic acquisitions and balance sheet management. Subsequently, he became Senior Vice President, Capital Projects, where he led a team that oversaw Sherritt's major projects, comprising a portfolio of early-stage development and construction projects ranging between $200 million and $4 billion.

The Company also announced that it is holding a special meeting of shareholders on September 22, 2011 for the following purposes:

  1. To pass a special resolution authorizing the Company to apply for and continue its corporate existence from British Columbia into Ontario under the name Potash Ridge Corporation;
  2. To adopt new By-Laws to conform to the Ontario Business Corporations Act;
  3. To appoint two additional directors;
  4. To appoint PricewaterhouseCoopers as auditors; and
  5. To ratify the Board of Directors' decision to adopt a long-term stock option plan.

Management intends to appoint Guy Bentinck and Philip Williams to the Board of Directors subject to the resolutions referred to above being passed by shareholders.

Mr. Williams is presently corporate secretary of New Earth Potash Corp and is Vice President, business development, for Pinetree Capital of Toronto. Mr. Williams has over 10 years of financial market experience including institutional brokerage as an equity research analyst prior to his joining Pinetree in 2008. Mr. Williams is also Vice-President, business development, of Mega Uranium Ltd. and holds a CFA designation along with a bachelor of commerce degree.

Notice of the special meeting will be mailed to shareholders shortly.

Disclaimer for Forward-Looking Information

Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company.

Forward-looking statements and information are based on assumptions that financing and personnel will be available when required and on reasonable terms, and all necessary regulatory approvals and shareholder approval will be obtained, none of which are assured and are subject to a number of other risks and uncertainties. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

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  • New Earth Potash Corp.