Itafos Announces Resignation of Director and Appointment of Interim Chairman
ITAFOS ANNOUNCES RESIGNATION OF DIRECTOR AND APPOINTMENT OF INTERIM
CHAIRMAN
TORONTO, ON – November 21, 201 9 – Itafos (TSX VENTURE: IFOS) ( the “Company”)
announced today that Mr. Brent de Jong , Chairman of the Company’s Board of Directors, has
stepped down as Chair man and member of the Company’s Board of Directors. The Company
thanks Mr. de Jong for his service and contributions and wishes him well in his future endeavors.
Following Mr. de Jong’s resignation, the Company’s Board of Directors will consist of Mr. Anthony
Cina, Mr. David Delaney, Mr. Evgenij Iorich, Dr. Mhamed Ibnabdeljalil (interim CEO) and Mr.
Ronald Wilkinson. The Company’s Board of Directors has appointed Mr. Cina to serve as
Chairman on an interim basis.
About Itafos
The Company is a vertically integrated phosphate fertilizers and specialty products company with
an attractive portfolio of long -term strategic businesses and projects 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 fertilizer business with
production and sales capacity of approximately 550kt per year of monoammonium
phosphate (“MAP”), MAP with micronutrients (“ MAP+”), superphosphoric acid (“ SPA”),
merchant grade phosphoric acid (“ MGA”) and specialty products including ammonium
polyphosphate (“APP”) located in Idaho, US;
▪ Itafos Arraias – a phosphate fertilizer business with production and sales capacity of
approximately 500kt per year of single superphosphate (“SSP”), SSP with micronutrients
(“SSP+”), premium PK compounds and approximately 40kt per year of excess sulfuric
acid located in Tocantins, Brazil;
▪ 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 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, 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 information of historical fact is forward looking information. The use of any
of the words “intend”, “anticipate”, “plan”, “continue”, “e stimate”, “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 f actors that may cause actual results or events to differ materially 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 n ews
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 those 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 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
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.
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 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 Investor Relations
www.itafos.com