Itafos Announces Appointment of Chief Executive Officer
ITAFOS ANNOUNCES APPOINTMENT OF CHIEF EXECUTIVE OFFICER
TORONTO, ON – January 20, 2019 – Itafos (TSX VENTURE: IFOS) (the “ Company”)
announced today that its Board of Directors has appointed Dr. Mhamed Ibnabdeljalil as Chief
Executive Officer, effective immediately. Dr. Ibnabdeljalil has been serving as interim Chief Executive
Officer since May 16, 2019. D r. Ibnabdeljalil has also been ser ving as a member of the Company’s
Board of Directors since December 31, 2016 and will continue in that role.
“The Board of Directors is pleased to confirm Mhamed as permanent CEO” said Anthony Cina, interim
Chairman of the Company’s Board of Directors. “Since becoming interim CEO, Mhamed has been
integral in reshaping our strat egy and business plan during a c hallenging economic cycle as the
industry faces significant and continued downward pressure on g lobal fertilizer prices. We are
extremely confident that Mhamed’s extensive knowledge of and ex perience in the global fertilizer
market makes him uniquely qualif ied to lead the Company and our global executive team over this
next phase in the Company’s growth and success”.
Dr. Ibnabdeljalil has a track record in leading multi -billion-dollar sales, marketing, raw material
procurement, logistics, complex deal structuring and negotiation, and emerging markets M&A efforts
across emerging and developed markets. Previously, he served as the Executive Vice President and
Chief Commercial Officer of OCP Group S.A., a leader in the glo bal phosphate industry. There, Dr.
Ibnabdeljalil played an integral role in the corporate and stra tegic restructuring of OCP, reshaping its
role in the phosphate fertilizer sector as a global leader. Dr. Ibnabdeljalil has served as a director on
more than a dozen boards of fertilizer companies in Europe, India, Middle East and Americas.
About Itafos
The Company is a vertically integrated phosphate fertilizers and specialty products company with an
attractive portfolio of long-term strategic businesses and proj ects 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 fert ilizer business with production
and sales capacity of approximately 550kt per year of monoammon ium phosphate (“MAP”),
MAP with micronutrients (“MAP+”), superphosphoric acid (“SPA”), merchant grade phosphoric
acid (“MGA”) and specialty products inc luding ammonium polyphosphate (“ APP”) located in
Idaho, US;
Itafos Arraias – a phosphate fert ilizer business with producti on and sales capacity of
approximately 500kt per year o f single superphosphate (“ SSP”), SSP with micronutrients
(“SSP+”), premium PK compounds and approximately 40kt per year of exc ess sulfuric acid
located in Tocantins, Brazil;
Itafos Farim – a high-grade phos phate mine project located in Farim, Guinea-Bissau;
Itafos Paris Hills – a high-grade phosphate mine project located in Idaho, US;
Itafos Santana – a vertically integrated high-grade phosphate mine and fertilizer plant project
located in Pará, Brazil;
Itafos Mantaro – a large phos phate 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 informati on of historical fact is forwar d 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 expre ssions are intended to identify forward
looking information. This info rmation involves known and unknow n risks, uncertainties and other
factors that may cause actual res ults or events to differ mater ially from those anticipated in such
forward looking information. No assurance can be given that thi s 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 materi ally from that anticipated by such forward looking information.
Although the Company has attempt ed to identify important factor s that could cause actual results to
differ materially from those c ontained in forward-looking state ments, 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-lo oking 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 und er the Company’s profile at w ww.sedar.com. Readers are
cautioned that the foregoing list of risks, uncertainties and a ssumptions are not exhaustive. The
forward-looking information incl uded in this news release is ex pressly qualified by this cautionary
statement and is made as of the date of this news release. The Company undertakes no obligation to
publicly update or revise any forward-looking information excep t as required by applicable securities
laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PR OVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANG E) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information, please contact:
Itafos Investor Relations
www.itafos.com