Itafos Announces Intention to Commence a Normal Course Issuer Bid
ITAFOS ANNOUNCES INTENTION TO COMMENCE A NORMAL COURSE ISSUER BID
TORONTO, ON – December 12, 2018 – Itafos (TSX VENTURE: IFOS) (the “Company”) announced
today that it has received c onditional acceptance from the T SX Venture Exchange (“TSX-V”) to
commence a normal course issuer bid (the “NCIB”). The Company intends to purchase, from time to
time as it considers advisable over the 12-mont h period of the NCIB program, up to an aggregate of
7,103,515 shares in the c apital of the Company (the “Shares”), representing approximately 5.0% of
the Company’s issued and outstandi ng shares. As of December 11, 2018, the Company has
142,070,301 common shares issued and outstanding.
The NCIB will commence on December 14, 2018 and terminate on the earlier of the Company
purchasing the Shares, the Company providing a notice of terminat ion, or 12 months following the
commencement date. All pur chases will be made through the facili ties of the TSX-V or alternative
Canadian trading systems at market prices or by such other means as may be permitted under
applicable securities laws. Any da ily purchases on the TSX-V under t he NCIB will be subject to all
limitations as set forth in the TSX-V rules. All Shares acquired by the Company under the NCIB will
be subsequently cancelled. The Company has appointed Raym ond James Ltd. to conduct the NCIB
on its behalf.
The Board of Directors of the Company believes tha t, from time to time, the market price of the
Company shares may not adequately reflect the Co mpany’s underlying value and future prospects
and that, at such times, the repurchase of shar es represents an appropriate use of the Company’s
financial resources and would be in the best interests of the Company’s shareholders.
About Itafos
Itafos is a vertically integrated phosphate fert ilizers and specialty products company with an
attractive portfolio of long-term strategic busines ses and projects located in key fertilizer markets
worldwide. Itafos is managed by an industr y leading board of directors and experienced
management team with extensive operations and commercial expert ise. Itafos owns and operates
Itafos Conda, a vertically integr ated phosphate fertilizer business with production and sales capacity
of approximately 550kt per year of monoammonium phosphate (MAP) , superphosphoric acid (SPA),
merchant grade phosphoric acid (MGA) and specialty pr oducts including ammonium polyphosphate
(APP) located in Idaho, US and Itafos Arraias, a ve rtically integrated pho sphate fertilizer business
with production and sales capacity of approximately 500kt per year of single superphosphate (SSP)
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 in
Farim, Guinea Bissau, Itafos Sant ana, a vertically integrated high- grade phosphate fe rtilizer project
located in Pará, Brazil, Itafos Araxá, a phosphate and rare earth ox ide mine project located in Minas
Gerais, Brazil and Itafos Mantaro, a high-grade phosphate mine project located in Junin, Peru.
For more information, please visit the Company’s website, www.itafos.com.
Forward-Looking Statements
Certain information contained in this news releas e constitutes forward l ooking information. All
information other than inform ation of historical fact is forward looking informat ion. The use of any of
the words “intend”, “anticipate”, “p lan”, “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 mate rially from thos e anticipated in
such forward looking information. No assurance c an be given that this info rmation 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 materia lly from that anticipated by such forward looking information.
Although the Company has attempted to identify import ant factors that could c ause actual results to
differ materially from those contained in forward-l ooking statements, there ma y be other factors that
cause results not to be as antici pated, estimated or int ended. 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 t he Company’s Management Discussion and Analysis and
other disclosure documents availabl e under the Company’s profile at www.sedar.com. Readers are
cautioned that the foregoing list of risks, uncertainties and assump tions are not exhaustive. The
forward looking information included in this news re lease is expressly qualifi ed 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 IT S 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
Robert Winslow
www.itafos.com