Itafos Announces Senior Leadership Changes
Itafos Announces Senior Leadership Changes
TORONTO, ONTARIO – February 20, 2017 – Itafos (TSX VENTURE: IFOS) (“Itafos” or the “Company”) is
pleased to announce the appointment of Mr. Brian Zatarain as Chief Executive Officer,
effective February 17, 2017, replacing Mr. Cristiano Melcher who has resigned to pursue other
opportunities. Mr. Zatarain was most recently selected by the Board in October 2016 to lead the
successful restructuring and recapitalization as the Company’s Chief Financial Officer. Mr. Rafael Rangel
will step in as the Company’s Chief Financial Officer with a focus on Accounting, Tax and Treasury
functions, a role he previously held on an interim basis from April 2016 to October 2016.
Mr. Brent de Jong, Chairman of the Board of Directors, commented, “Itafos is uniquely positioned with
high quality phosphate assets in Brazil, West Africa, United States and Peru, a compelling opportunity
set and a skilled and dedicated workforce. We are excited about this next chapter and can count on Mr.
Zatarain’s leadership, with the support of the Board and the management team, to maintain focus and
momentum on the implementation of the Company’s business plan and to advance the value creation
initiatives underway, including the completion of the recommissioning of its primary asset, the Itafos‐
Arraias fully integrated SSP operations located in Brazil.”
About Itafos
Itafos (TSX VENTURE: IFOS) is focused on becoming a significant integrated producer of phosphate based
fertilizers and related products. Itafos has an experienced team with significant experience in the
business of fertilizer operations, management, marketing and finance. Itafos owns and operates the
Itafos‐Arraias SSP Operations, which consists of an integrated fertilizer producing facility comprised of a
phosphate mine, a mill, a beneficiation plant, a sulphuric acid plant, an SSP plant and a granulation plant
and related infrastructure located in central Brazil. Itafos’ development portfolio includes a number of
additional projects in Brazil, including the Santana Project, a high‐grade phosphate deposit located in
close proximity to the largest fertilizer market of Mato Grosso State and animal feed market of Pará
State, and the Araxá Project, a high‐grade rare earth elements, niobium and phosphate deposit located
in close proximity to two operating mines, therefore, benefiting from existing local infrastructure. In
addition, Itafos owns an approximate 31.3% interest in GB Minerals Ltd. which owns the Farim Project, a
high‐grade phosphate deposit located in Guinea Bissau and an approximate 29.6% interest in Stonegate
Agricom Ltd. which owns the Paris Hills Project, a high‐grade phosphate deposit located in Idaho, United
States and the Mantaro Project, a high‐grade phosphate deposit located in Peru.
Forward‐Looking Statements
This news release contains “forward‐looking statements” within the meaning of applicable Canadian
securities legislation. Forward‐looking statements include, but are not limited to, statements related to
activities, events or developments that the Company expects or anticipates will or may occur in the
future. These statements speak only as of the date of this news release. Forward‐looking statements
are based on a number of factors and assumptions made by management and considered reasonable at
the time such statements are made, and forward‐looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results, performance or achievements to be
materially different from those expressed or implied by the forward‐looking statements. Such risk
factors include but are not limited to those factors disclosed in the Company’s current Annual
Information Form and Management’s Discussion and Analysis, as well as other public disclosure
documents, available under the Company’s profile on SEDAR at www.sedar.com. Although Itafos has
attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward‐looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended. There can be no assurance
that forward‐looking statements will prove to be accurate. The forward‐looking statements contained
herein are presented for the purposes of assisting investors in understanding the Company’s plans,
objectives and goals and may not be appropriate for other purposes. Accordingly, readers should not
place undue reliance on forward‐looking statements. The Company undertakes no obligation to update
forward‐looking statements if circumstances or management’s estimates or opinions should change
except as required by applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this release.
Further Information
The Blueshirt Group
Gary Dvorchak, CFA
Managing Director
+1 (323) 240‐5796
Itafos