Itafos Announces Production and Sales of Hydrofluorosilicic Acid at Conda
News Release
ITAFOS ANNOUNCES PRODUCTION AND SALES OF HYDROFLUOROSILICIC ACID AT CONDA
HOUSTON, TX – June 30, 2022 – Itafos Inc. (TSX-V: IFOS) (“Itafos” or the “Company”) announced today that Conda has
begun production and sales of hydrofluor osilicic acid (“HFSA”). The Company pr eviously identified the extraction and
commercialization of HFSA as an organic growth opportunity to monetize the fluoride contained in Conda’s ore.
“We are pleased to have safely and succ essfully completed our HFSA plant at Conda and look forward to supplying the
North American market for many years to come. Our team did an incredible job to bring this initiative from concept to
production in 18 months,” said G. David Delaney, CEO of Itafos.
Conda’s existing phosphoric acid evaporation process was modified so as to have the capacity to extract up to 30,000 wet
short tons per year of HFSA. The modifications were completed as part of Conda’s scheduled plant turnaround during 2022.
Following completion of the modifications and turnaround, Conda returned to full production capacity and began production
of HFSA. Conda has also completed its first commercial delivery of the new product under a long-term offtake agreement.
About Itafos
The Company is a phosphate and specialty fertilizer company. The Company’s businesses and projects are as follows:
Conda – a vertically integrated phos phate fertilizer business with produc tion 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 inte grated phosphate fertilizer busi ness with production capac ity of approximately 500kt per
year of single superphosphate (“SSP”), SSP with micronutrients (“SSP+”) and approximately 40kt per year of excess
sulfuric acid (220kt per year gross sulfuric acid production capacity) located in Tocantins, Brazil;
Farim – a high-grade phosphate mine proj ect located in Farim, Guinea-Bissau;
Santana – a vertically integrated high -grade phosphate mine and fertilizer plant project located in Pará, Brazil; and
Araxá – a vertically integrated rare earth elements and niobium mine and extraction plant project located in Minas
Gerais, Brazil.
In addition to the businesses and projects described above, the Company also ow ns Paris Hills (Idaho, US) and Mantaro
(Junin, Peru), which are phosphate mine projects that are in process of being wound down.
The Company is a Delaware corporation that is headquartere d in Houston, TX. The Company’s shares trade on the TSX
Venture Exchange (“TSX-V”) under the ticker symbol “IFOS”. The Company’s principal shareholder is CL Fertilizers Holding
LLC (“CLF”). CLF is an affiliate of Castlelake, L.P., a global private investment firm.
For more information, or to jo in the Company’s mailing list to receive notification of future ne ws releases, please visit the
Company’s website at www.itafos.com.
Forward-Looking Information
Certain information contained in this news release constitute s forward-looking information. All information other than
information 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
expressions are intended to identify forw ard-looking information. This informat ion involves known and unknown risks,
uncertainties and other factors that may ca use actual results or events to differ ma terially from those anticipated in 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 forward-looking information. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from thos e contained in forward-looking statements,
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-looking statements in clude, but are not limited to,
TSX-V: IFOS
those risk factors set out in the Company’s annual informatio n form and other disclosure documents available under the
Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.itafos.com. Readers are cautioned
that the foregoing list of risks, uncertainties 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 date 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 ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information, please contact:
George Burdette
Itafos Investor Relations
713-242-8446