Itafos Announces Resignation of Director and Appointment of Interim Chairman
November 21 2019 - 6:56PM
Itafos (TSX VENTURE: IFOS) (the “
Company”)
announced today that Mr. Brent de Jong, Chairman of the Company’s
Board of Directors, has stepped down as Chairman and member of the
Company’s Board of Directors. The Company thanks Mr. de Jong for
his service and contributions and wishes him well in his future
endeavors.
Following Mr. de Jong’s resignation, the
Company’s Board of Directors will consist of Mr. Anthony Cina, Mr.
David Delaney, Mr. Evgenij Iorich, Dr. Mhamed Ibnabdeljalil
(interim CEO) and Mr. Ronald Wilkinson. The Company’s Board of
Directors has appointed Mr. Cina to serve as Chairman on an interim
basis.
About Itafos
The Company is a vertically integrated phosphate
fertilizers and specialty products company with an attractive
portfolio of long-term strategic businesses and projects located in
key fertilizer markets worldwide.
The Company owns, operates and is developing the
following businesses and projects:
- Itafos Conda – a vertically integrated phosphate mine and
fertilizer business with production and sales capacity of
approximately 550kt per year of monoammonium phosphate
(“MAP”), MAP with micronutrients
(“MAP+”), superphosphoric acid
(“SPA”), merchant grade phosphoric acid
(“MGA”) and specialty products including ammonium
polyphosphate (“APP”) located in Idaho, US;
- Itafos Arraias – a phosphate fertilizer business with
production and sales capacity of approximately 500kt per year of
single superphosphate (“SSP”), SSP with
micronutrients (“SSP+”), premium PK compounds and
approximately 40kt per year of excess sulfuric acid located in
Tocantins, Brazil;
- Itafos Paris Hills – a high-grade phosphate mine project
located in Idaho, US;
- Itafos Farim – a high-grade phosphate mine project located in
Farim, Guinea-Bissau;
- Itafos Santana – a vertically integrated high-grade phosphate
mine and fertilizer plant project located in Pará, Brazil;
- Itafos Mantaro – a large phosphate mine project located in
Junin, Peru; and
- Itafos Araxá – a vertically integrated rare earth elements and
niobium mine and extraction plant project located in Minas Gerais,
Brazil.
For more information, or to join the Company’s
mailing list to receive notification of future news releases,
please visit the Company’s website, 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. 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.
This information involves known and unknown risks, uncertainties
and other factors that may cause actual results or events to differ
materially from those anticipated in such forward looking
information. No assurance can be given that this information will
prove to be correct and such forward looking information included
in this news release should not be unduly relied upon.
Forward looking information is subject to a
number of risks and other factors that could cause actual results
and events to vary materially from that anticipated by such forward
looking information. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Factors that may cause actual
results to differ materially from expected results described in
forward-looking statements include, but are not limited to, those
risk factors set out in the Company’s Management Discussion and
Analysis and other disclosure documents available under the
Company’s profile at www.sedar.com. Readers are cautioned that the
foregoing list of risks, uncertainties and assumptions are not
exhaustive. 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. Itafos undertakes no
obligation to publicly update or revise any forward-looking
information except as required by applicable securities laws.
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.
For further information, please
contact:
Itafos Investor
Relationsinvestor@itafos.comwww.itafos.com
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