Intrepid Announces Election of New Member to Board of Directors
Intrepid Potash, Inc. (NYSE:IPI) today announced the election of Chris
A. Elliott to the company′s Board of Directors.
'Chris Elliott brings to Intrepid a wealth of entrepreneurial business
experience, particularly in terms of his specific background in the
agricultural industry. Chris′ skills and unique knowledge of
agricultural economics are complimentary to those of Intrepid′s other
Board members and should benefit Intrepid and its stockholders. Chris′
day-to-day activities of managing farms and purchasing farm inputs give
him intimate familiarity with farm economics that will provide helpful
perspective into the sales and marketing of our products,? commented Bob
Jornayvaz, Intrepid′s Executive Chairman of the Board.
Mr. Elliott has approximately 23 years of work experience in the
agriculture industry. Since 2007, Mr. Elliott has been the President and
co-owner of Accuform Technologies, LLC, an agriculture product
development company. In addition, Mr. Elliott is President and Chief
Executive Officer of Agricultural Company of America Partners, LP, a
company that owns and manages agricultural real estate and operates
farms producing a variety of crops over a diverse geographic spectrum.
Mr. Elliott previously served as President and Chief Executive Officer
of Nutra-Park Inc., a company specializing in products to regulate plant
growth, from 2002 to 2006.
Intrepid is the largest producer of potash in the U.S. and is dedicated
to the production and marketing of potash and TrioTM, a
product produced from langbeinite ore. Intrepid owns five active potash
production facilities -- three in New Mexico and two in Utah.
Intrepid routinely posts important information about its business on its
website under the Investor Relations tab. The website address for
Intrepid is http://www.intrepidpotash.com.
Certain statements in this press release, and other written or oral
statements made by or on behalf of us, are 'forward-looking statements?
within the meaning of the federal securities laws. Statements regarding
future events and developments and our future performance, as well as
management′s expectations, beliefs, plans, estimates or projections
relating to the future, including statements regarding guidance, are
forward-looking statements within the meaning of these laws. Although we
believe that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, there can be no
assurance that the expectations will be realized. These forward-looking
statements are subject to a number of known and unknown risks and
uncertainties, many of which are beyond our control that could cause
actual results to differ materially and adversely from such statements.
These risks and uncertainties include: changes in the price of potash or
Trio?; operational difficulties at our facilities; the ability to hire
and retain qualified employees; changes in demand and/or production of
potash or Trio?/langbeinite; changes in our reserve estimates; our
ability to achieve the initiatives of our business strategy, including
but not limited to the development of the HB Solar Solution Mine as a
solution mine and the further development of our langbeinite recovery
assets; changes in the prices of our raw materials, including but not
limited to the price of chemicals, natural gas and power; fluctuations
in the costs of transporting our products to customers; changes in labor
costs and availability of labor with mining expertise; the impact of
federal, state or local government regulations, including but not
limited to environmental and mining regulations, and the enforcement of
such regulations; competition in the fertilizer industry; declines in
U.S. or world agricultural production; declines in oil and gas drilling;
changes in economic conditions; adverse weather events at our
facilities; our ability to comply with covenants inherent in our current
and future debt obligations to avoid defaulting under those agreements;
disruptions in credit markets; our ability to secure additional federal
and state potash leases to expand our existing mining operations;
governmental policy changes that may adversely affect our business and
the risk factors detailed in our filings with the U.S. Securities and
Exchange Commission. Please refer to those filings for more information
on these risk factors. These forward-looking statements speak only as of
the date of this press release, and we undertake no obligation to
publicly update or revise any forward-looking statement, whether as the
result of future events, new information or otherwise.
Intrepid Potash, Inc.
William Kent, 303-296-3006