Itafos Announces RSU Awards
ITAFOS ANNOUNCES RSU AWARDS
TORONTO, ON – March 26, 2020 – Itafos (TSX-V: IFOS) (the “Company”) announced today the
award of an aggregate 2,703,259 restricted share units ( “RSUs”) to directors and management
under the Company’s RSU plan. The Company awarded 621,279 RSUs to directors and
2,081,980 RSUs to management. The RSUs awarded to directors shall vest 1/3 on the
anniversary of the grant date over a period of three years. The RSUs awarded to management
vest based on a combination of time and performance with 50% of the RSUs vesting 1/3 on the
anniversary of the grant date over a period of three years and 50% of the RSUs vesting on the
third anniversary of the grant date subject to achievement of certain key performance indicators
as established by the Company’s Board of Directors.
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 vertically integrated phosphate mine and fertilizer business with
production and sales 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;
▪ Itafos Farim – a high-grade phosphate mine project located in Farim, Guinea-Bissau;
▪ Itafos Paris Hills – a high-grade phosphate mine project located in Idaho, US;
▪ 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 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 similar expressions are intended to
identify forward looking information. This information i nvolves known and unknown risks,
uncertainties and other factors 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 corre ct 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 an ticipated 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 r esults 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 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 undert akes 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 VENT URE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS
RELEASE.
For further information, please contact:
Itafos Investor Relations
www.itafos.com