TORONTO, July 26, 2018 (GLOBE NEWSWIRE) -- Crystal Peak Minerals Inc. (“Crystal Peak” or the “Company”) (TSXV:CPM) (OTCQX:CPMMF) today announced that Doug Hoadley, the former Head of Nitrogen at CRU and previous Director of Agribusiness Analysis at CF Industries, has joined the Company as its contract Director of Marketing. He will pursue placement of the anticipated Sulfate of Potash (SOP) production from the Company’s Sevier Playa Project located in southwestern Utah.
John Mansanti, Chief Executive Officer of Crystal Peak, said; "We are very pleased to welcome Doug Hoadley to our team. Having worked previously at CF Industries, CRU, and Mosaic, Doug brings a deep knowledge of fertilizer markets to our company. He will be a terrific addition as we seek off-take agreements and work to penetrate key fertilizer markets in support of project financing. With the project moving rapidly through permitting and towards construction, the timing couldn’t be better."
Doug Hoadley said; "I’m very happy to be joining Crystal Peak Minerals. I think the Sevier Playa project is one of the best greenfield fertilizer assets in the world and the company is well positioned to bring its products to markets. And, with the conclusion of permitting expected next year, I’m ready to find the right marketing partner."
Regarding permitting, Crystal Peak is advancing the EIS permit process and anticipates that the Bureau of Land Management will issue Notice to Proceed in Q4 2019 with a construction start date expected that same quarter. This compares to the Q1 2019 construction start date that was contemplated in the NI 43-101 Technical Report summarizing the feasibility study for the Company’s Sevier Playa Potash Project. Allowing for a compressed construction schedule, the Company still projects first production in Q4 2022. Additionally, the Company is conducting on-going engineering efforts designed to optimize and improve the project.
About Crystal Peak Minerals Inc.
Crystal Peak is focused on the production of premium specialty fertilizers. The Company controls, directly or through agreement, mineral leases on more than 124,000 acres on its Sevier Playa property in Millard County, Utah. With a brine mineral resource known to contain potassium, magnesium, sulfate, and other beneficial minerals, Crystal Peak is targeting the production of specialty fertilizers and associated products through the use of brine extraction and a cost-effective solar evaporation process. SOP and other specialty fertilizers are used in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts.
For further information, please contact:
Woods Silleroy
Corporate Secretary
(801) 485-0223
woods@crystalpeakminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the targeting of the development and production of specialty fertilizers and associated minerals, including SOP, and magnesium compounds through the use of a cost-effective solar evaporation process; and Crystal Peak’s future business. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "is expected", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "believes", or variations of such words and phrases; or terms that state that certain actions, events, or results "may", "could", "would", "might", or "will be taken", “could occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on, a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Crystal Peak to be materially different from those expressed or implied by such forward-looking information. Although Crystal Peak 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 information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Crystal Peak does not undertake to update any forward-looking information, except in accordance with applicable securities laws.