VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 5, 2016) - Western Potash Corp. (TSX:WPX)(FRANKFURT:AHE) ("Western" or "the Company") is pleased to announce the following amendments to the board of directors of the Company effective September 29th, 2016. The new Western Board consists of seven members, with Geoffrey Chang and Bill Xue as executive directors. Mr. Xia Qinglong is appointed an independent member of the Audit Committee. Mr. Zheng Mianping is a newly appointed independent member of the Board. Buddy Doyle remains an independent member of the Board. Patricio Varas and Patrick Power, founders of the Company, will serve as non-executive members of the Board both having resigned from their respective management positions.
The board welcomes Mr. Xia Qinglong, CEO of ChinaBlue Chemical Ltd. who brings over 30 years experience in the resource extraction industry beginning a distinguished career after training as a geologist, earning a PhD in geophysics and subsequently training as a professor grade senior engineer at the Chinese University of Sciences Academy.
The Western board is also pleased to announce the appointment of Mr. Zheng Mianping, a renowned expert in the salt lake research and extraction industry. Mr. Zheng is a member of the Chinese Academy of Engineering and the President of the International Society for Salt Lake Research. Mr. Zheng is the foremost expert in salt deposits geology and a pioneer in the salt lake mineral extraction industry in China. Under his direction, China's first solution mining lithium extraction technique was also developed at the Zabuye Salt Lake. Recently Mr. Zheng oversaw the Survey of Marine Potash in China, which generated a breakthrough in potash prospecting of a new potash rich gravel brine layer.
Mr. Bill Xue and Mr. Patrick Power are re-joining the Board of Directors and will continue to contribute their managerial, organizational and commercial experience.
At the management level of Western, the board announces that Geoffrey Chang, Chairman of the Board will assume the position of CEO from Patricio Varas. George Gao will assume the role of Chief Administrative Officer and Jerry Zhang will take on the position of Corporate Secretary.
Geoffrey Chang, Chairman and CEO welcomed Mr. Xia and Mr. Zheng, recognizing their extensive industrial, technical and operational expertise. "The contributions that our new board members bring will be particularly valuable as Western transitions towards project construction and commercialization. Western is grateful for the contributions of Mr. Wang Hui and Mr. Wang Yinping who have tendered their resignations from the board as part of this restructuring. With the board and management streamlining, the Company is well positioned for the next critical stage in Western's development."
On behalf of the Board of Directors,
Geoffrey Chang, Chairman
Cautions Regarding Forward-Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing and results of the Technical Report. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.