Amir SohailHOUSTON, (ZM Newswire) — Itafos Inc. (TSX-V: IFOS) (OTCQX: ITFS) (“Itafos” or the “Company”) is pleased to announce that all items of business were approved at its annual general meeting of shareholders held today (the “Meeting”).
At the Meeting, the following directors were elected to serve until the next annual meeting of shareholders of the Company or until their successors are elected or appointed: Tony Cina, Ricardo De Armas, G. David Delaney, Ronald Wilkinson, Stephen Shapiro and Joseph McConnell.
The appointment of the Company’s auditor, PricewaterhouseCoopers LLP, was also ratified by shareholders.
About Itafos
The Company is a phosphate and specialty fertilizer company with businesses and projects spanning three continents:
- Conda – a vertically integrated phosphate fertilizer business located in Idaho, US with production capacity as follows:
- approximately 550kt per year of MAP, MAP with micronutrients (“MAP+”), superphosphoric acid (“SPA”), and merchant grade phosphoric acid (“MGA”); and
- approximately 27kt per year of hydrofluorosilicic acid (“HFSA”);
- Arraias – a vertically integrated phosphate fertilizer business located in Tocantins, Brazil with the following production targets (following the proposed restart of the beneficiation circuit):
- approximately 275kt per year of SSP, PAPR and DAPR;
- approximately 170kt per year of SSP, 60kt per year of PAPR and 45kt per year of DAPR;
- approximately 40kt per year of excess sulfuric acid (220kt per year gross sulfuric acid production capacity);
- approximately 275kt per year of SSP, PAPR and DAPR;
- Farim – a high-grade phosphate mine project located in Farim, Guinea-Bissau; and
- Santana – a vertically integrated high-grade phosphate mine and fertilizer plant project located in Pará, Brazil.
The Company is a Delaware corporation with operations in the United States, Brazil and Guinea-Bissau. The Company’s shares trade on the TSX-V under the ticker “IFOS”. The Company’s shares also trade in the US on the OTCQX® Best Market (“OTCQX”) under the ticker symbol “ITFS”. The Company’s principal shareholder is CL Fertilizers Holding LLC, which is an affiliate of global private investment firm Castlelake, L.P.
For more information, or to join the Company’s mailing list, please visit www.itafos.com.
Forward-Looking Information
Certain information contained in this news release constitutes forward-looking information. All information other than information of historical fact is forward-looking information. Statements that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future include, but are not limited to, statements regarding estimates and/or assumptions in respect of the Company’s financial and business outlook are forward-looking information. The use of any of the words “intend”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “would”, “believe”, “predict” and “potential” and similar expressions are intended to identify forward-looking information.
The forward-looking information contained in this news release is based on the opinions, assumptions and estimates of management, some of which are set out herein, which management believes are reasonable as at the date the statements are made. Those opinions, assumptions and estimates are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking information.
Although the Company has attempted to identify crucial factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Additional risks and uncertainties affecting the forward-looking information contained in this news release are described in greater detail in the Company’s Annual Information Form and current Management’s Discussion and Analysis available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.itafos.com. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The reader is cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates, assumptions or opinions should change, except as required by applicable securities law. The forward-looking information included in this news release is expressly qualified by this cautionary statement and is made as of the date of this news release.
NEITHER THE TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Contacts:
For Investors:
Matthew O’Neill
Executive Vice President & Chief Financial Officer
investor@itafos.com
713-242-8446
For Media:
Alliance Advisors IR
José Paredes
PR & Media Coordinator
jparedes@allianceadvisors.com
504-8755-8860
