Itafos Announces Appointment of Interim Chief Executive Officer
ITAFOS ANNOUNCES APPOINTMENT OF INTERIM CHIEF EXECUTIVE OFFICER
TORONTO, ON – May 16, 2019 – Itafos (TSX VENTURE: IFOS) (the “ Company”) a leader in
phosphate fertilizers and specialt y products, has appointed Mha med Ibnabdeljalil as interim Chief
Executive Officer, effective immediately. Dr. Ibnabdeljalil currently serves on the Board of Directors of
the Company and will continue in that role. Dr. Ibnabdeljalil succeeds Brian Zatarain who is stepping
down from his role as Chief Executive Officer to pursue other interests.
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.
"We are pleased that a leader of Dr. Ibnabdeljalil’s caliber an d experience has agreed to lead the
Company on an interim basis," s aid Brent de Jong, Chairman of t he Itafos Board of Directors. "With
more than two decades of experience, Dr. Ibnabdeljalil has a deep under standing of the phosphate
fertilizer industry and the opportunities ahead of the Company. Our knowledgeable Board will continue
to lend its expertise to Dr. Ibnabdeljalil and the organization while we identify our next C EO and will
ensure a smooth transition.” Mr . de Jong added, “On behalf of t he Board, I would like to thank Mr.
Zatarain for his service and contributions to the Company."
Dr. Ibnabdeljalil said, "I look forward to continuing my work with the Board and the management team
to drive growth and shareholder value."
Itafos’ Governance and Compensati on committee will continue its work and seek to conclude the
appointment process of the permanent CEO as soon as practicable , while ensuring that the process
is thorough and deliberate.
About Itafos
Itafos is a vertically integrated phosphate fertilizers and specialty products company with an attractive
portfolio of long-term strategic businesses and projects locate d in key fertilizer markets worldwide.
Itafos is managed by an experienc ed and diverse team with exten sive operations, commercial and
financial expertise. Itafos owns and operates Itafos Conda, a vertically integrated phosphate fertilizer
business with production and sale s capacity of approximately 55 0kt per year of monoammonium
phosphate (“MAP”), superphos phoric acid (“SPA”), merchant grade phosphoric acid (“MGA”) and
specialty products including a mmonium polyphosphate (“APP”) loc ated in Idaho, US and Itafos
Arraias, a vertically integrat ed phosphate fertilizer business with production and sales capacity of
approximately 500kt per year of single superphosphate (“SSP”), SSP with micronutrients (“SSP+”)
and other products and approximately 40kt per year of excess sulfuric acid located in Tocantins, Brazil.
Itafos owns and is developing Itafos Paris Hills, a high-grade phosphate mine project located in Idaho,
US, Itafos Farim, a high-grade phosphate mine project located i n 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, please visit http://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 under the Company’s profile at www.sedar.com. Readers are
cautioned that the foregoing list of risks, uncertainties and a ssumptions are not exhaustive. The
forward looking information in cluded in this news release is ex pressly 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 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 RELEASE.
For further information, please contact:
Itafos
Robert Winslow
www.Itafos.com