The extension will allow the Company and Tembo to complete discussions regarding
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
FENGRO EXTENDS CONVERTIBLE LOAN TO MAY 15, 2018
May 1, 2018 - VANCOUVER, BRITISH COLUMBIA: FENGRO Industries Corp.
(TSX-V:FGR) (“FENGRO” or “the Company”) today announced that it has entered
into an agreement with Tembo Capital Mining Fund LP extending the maturity date
of the Company’s convertible debenture in th e amount of $1,006,267 and due on
April 30, 2018 (the “Loan”) by two weeks, until May 15, 2018. The terms of the Loan
were previously announced by the Company on December 15, 2017.
The extension will allow the Company and Tembo to complete discussions regarding
the repayment or potential re-structuring of the Loan.
About FENGRO
FENGRO produces phosphate rock from its Direct Application Natural Fertilizer
(“DANF”) Santiago Project in Tocantins State, Brazil (“ Santiago Project”). Having
restructured its business and re-started extraction and sales of its DANF products in
2017, the Company is now positioned to expand its existing operations, add
additional products and pursue opportunities for increasing shareholder value in both
organic growth and corporate transactions. The Company has assembled a first
class management team and board, giving it a significant project development and
operational capacity in Brazil.
On behalf of FENGRO Industries Corp.
Giles Baynham , Chief Executive Officer and Director
For more information contact:
Email: [email protected]
+1 (604) 764 6126
FORWARD LOOKING STATEMENTS
Certain information contained in this press release constitutes “forward-looking information”, within the meaning
of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward -
looking terminology such as “aims”, “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”,
“target”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of
such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this
press release may include statements regarding the future operating or financial performance of Fengro which
involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and
outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such
statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.
Among those factors which could cause actual results to differ materially are the following: market conditions
and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR
Suite 1100 – 1111 Melville Street, Vancouver, B.C., Canada, V6E 3V6
Tel. 604-764-6126 Fax. 604-484-7143 | www.fengro.com
at www.sedar.com. The forward-looking statements included in this press release are made as of the date of
this press release and Fengro disclaims any intention or obligation to update or r evise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as expressly required by
applicable securities legislation.
Disclosure - The Company’s decision to produce DANF, its DANF production targets and cash flow projections
were not based on a feasibility study of mineral reserves demonstrating economic and technical viability. Without
a technical report demonstrating economic and technical viability, there is uncertainty as to whether the Company
will be able to economically produce DANF in the long run and as to whether the Company will be confronted
with any unforeseen technical impediments. The Company has now completed a preliminary economic
assessment.
Disclosure - Note that the DANF PEA is preliminary in nature as it includes inferred mineral resources that are
considered too speculative geologically to have the economic considerations applied to them that would enable
them to be categorized as mineral reserves. Mineral resources that are not m ineral reserves do not have
demonstrated economic viability, and as such there is no certainty that the preliminary assessment and
economics will be realized.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this
press release.