Itafos Announces Appointment of Chief Executive Officer
ITAFOS ANNOUNCES APPOINTMENT OF CHIEF EXECUTIVE OFFICER
TORONTO, ON – November 30, 2020 – Itafos (TSX-V: IFOS) (the “Company”) announced today that it s
Board of Directors has appointed G. David Delaney as Chief Exec utive Officer (“CEO”), effective
immediately. Mr. Delaney has been serving as a member of the Co mpany’s Board of Directors since
February 6, 2017 and will continue in that role. Mr. Delaney succeeds Dr. Mhamed Ibnabdeljalil who served
as CEO since May 16, 2019.
Mr. Delaney is a senior executive with over 30 years’ experience in leadership roles within the fertilizer and
agricultural sectors. Mr. Delaney previously served as Chief Co mmercial Officer at Farmer’s Business
Network Inc., an independent network of thousands of North Amer ica’s most advanced farmers. Prior to
that, Mr. Delaney served as a Strategic Advisor for Paine & Partners, LLC (now Paine Schwartz Partners),
a private equity firm that focuses on the large and growing foo d and agricultural sectors. Prior to these
roles, Mr. Delaney was the Executive Vice President and Chief Operating Officer of Potash Corporation of
Saskatchewan Inc. (“PotashCorp”) where he oversaw operations ac ross the company’s business
segments, spanning 16 different sites. Earlier in his career at PotashCorp, Mr. Delaney served as President
of Sales and Marketing where he led the centralization of the global sales function and had oversight of all
sales, marketing, market research, transportation and distribut ion activities. Prior to joining PotashCorp,
Mr. Delaney held various sales and product positions at Arcadia n Corporation Ltd until it was acquired by
PotashCorp in 1997. Mr. Delaney has served on numerous boards, including Arab Potash Company,
Brandt, Farmers Business Network, Inc., Orbis Health Solutions and Willard Agri-Service, and other
industry boards, including Can potex, Fluid Fertilization Associ ation, Phosphate Chemicals Expert
Association and the International Plant Nutrition Institute, and currently serves as President of the Southern
Illinois University Foundation. Mr. Delaney holds a Bachelor of Science in Agriculture from Southern Illinois
University.
“The Board is extremely pleased to have David as CEO. David is highly respected within our industry and
has been an independent director of the Company for several years. His in-depth knowledge of the industry
and Company, combined with his collaborative leadership style a nd adaptability, will serve both him and
the Company well,” said Anthony Cina, Chairman of the Company’s Board of Directors. Mr. Cina added,
“On behalf of the Board, I would also like to thank Mhamed for his service and contributions to the
Company.”
Mr. Delaney said, “I am very excited to join the Company’s mana gement team and its terrific employees.
The Company is uniquely positioned to continue serving our customers safely and reliably from our existing
asset base with improving mark et fundamentals representing a po sitive change for our current product
portfolio and our future. I look forward to spearheading the Company’s growth in the agricultural sector.”
About Itafos
The Company is a pure play phosphate and specialty fertilizer p latform with an attractive portfolio of
strategic businesses and projects located in key fertilizer markets, including North America, South America
and Africa.
The Company’s businesses and projects are as follows:
Conda – a vertically integrated phosphate fertilizer business with production capacity of
approximately 550kt per year of monoammonium phosphate (“MAP”), MAP with micronutrients
(“MAP+”), superphosphoric acid (“SPA”), merchant grade phosphoric acid (“MGA”) and ammonium
polyphosphate (“APP”) located in Idaho, US;
Arraias – a vertically integrated phosphate fertilizer busines s with production capacity of
approximately 500kt per year of single superphosphate (“SSP”), SSP with micronutrients (“SSP+”)
and approximately 40kt per year of excess sulfuric acid located in Tocantins, Brazil;
Farim – a high-grade phosphate mine project located in Farim, Guinea-Bissau;
Paris Hills – a high-grade phos phate mine project located in Idaho, US;
Santana – a vertically integrated high-grade phosphate mine an d fertilizer plant project located in
Pará, Brazil;
Mantaro – a phosphate mine proj ect located in Junin, Peru; and
Araxá – a vertically integrated rare earth elements and niobiu m mine and extraction plant project
located in Minas Gerais, Brazil.
The Company’s principal shareholder is CL Fertilizers Holding LLC (“CLF”). CLF is an affiliate of Castlelake,
L.P., a global private investment firm.
The Company’s shares trade on the TSX Venture Exchange (“TSX-V” ) under the trading symbol “IFOS”.
The Company’s registered office is at Ugland House, Grand Cayman, Cayman Islands KY1-1104.
For more information, or to join the Company’s mailing list to receive notification of future news releases,
please visit the Company’s website at 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 s imilar 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 i n 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 for ward 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 oth er 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’s discussion and analysis of operation s and financial condition and other
disclosure documents available under the Company’s profile at www.sedar.com and on the Company’s
website at www.itafos.com. Readers are cautioned that the foregoing list of risks, uncer tainties 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 da te of this news release. The Company
undertakes no obligation to publicly update or revise any forward-looking information except as required by
applicable securities laws.
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 ADEQU ACY OR ACCURACY
OF THIS NEWS RELEASE.
For further information, please contact:
Itafos Investor Relations
www.itafos.com