Itafos Announces the Closing of the Acquisition of the Conda Phosphate Operations and the Appointment of Ron Wilkinson to Its Board of Directors
ITAFOS ANNOUNCES THE CLOSING OF THE ACQUISITION OF THE CONDA
PHOSPHATE OPERATIONS AND THE APPOINTMENT OF RON WILKINSON TO
ITS BOARD OF DIRECTORS
January 12, 2018 HOUSTON, Texas -- Itafos (TSXV: IFOS) today announced the closing of the
previously announced acquisition of the Conda Phosphate O perations from Agrium Inc., a wholly-
owned subsidiary of Nutrien Ltd ., and the appointment of Ron Wilkins on to the board of directors of
the company.
The Conda Phosphate Operations, located in Conda, Idaho, whic h include phosphate production
facilities and adjacent phosphate mi neral rights, produces approxima tely 540,000 metric tons per
year of mono-ammonium phosphate, super phosphoric acid, merc hant grade phosphoric acid and
specialty products and serves the North American fertilizer market.
Mr. Wilkinson retired from Agrium in February 20 16 after a career spanning 40 years in the fertilizer
industry. He served as Senior Vice President and President of Agrium’s Wholesale Business Unit
from 2004 through September 2015. In this role Mr. Wilkinson was responsible for manufacturing
operations for 12 production sites, along with the associated supply chain, sales, marketing and
distribution. Prior to this role, he held variou s positions of increasing responsibility with Agrium,
Viridian, Sherritt and Imperial Oil/ Exxon Chemical. Mr. Wilkins on has served on various boards,
including the Canadian Fertilizer Institute, Profertil S.A. and C anoptex. Mr. Wilkinson holds a
Bachelor of Science Degree in Chemical Engineering from the University of Alberta.
“Itafos continues to deliver on its strategic object ive of becoming a leading global player in the
phosphate fertilizer industry,” said Brian Zatarain, Chief Executive Officer of Itafos. “We are pleased
to have closed this transformative transaction and look forward to working with Mr. Wilkinson who
further strengthens the leadership of the com pany with extensive industry experience and a
successful track record of driving profitable growth.”
About Itafos
Itafos is an integrated producer of phosphate fertilizers with an attr active portfolio of long-term
strategic assets. Itafos is m anaged by an experienced and diverse t eam with extensive commercial,
financial, legal and technical expertise. Itafos owns the Conda Phosphat e Operations, which
produces approximately 540,000 tons per year of mono-amm onium phosphate, super phosphoric
acid, merchant grade phosphoric acid and specialty products located in Idaho, United States and the
Arraias Phosphate Operations whic h produces approximately 500,000 t ons per year of single super
phosphate located in central Brazil. Itafos’ dev elopment portfolio includes a number of additional
projects in Brazil, including the Santana Projec t, a high-grade phosphate mine project located in
Pará State and the Araxá Project, a high-grade rare earth elements, niobium and phosphate mine
project located in Minas Gerais State. In additi on, Itafos owns the Paris Hills Project, a high-grade
phosphate mine project located in Idaho, United States, the Mantaro Project, a high-grade
phosphate mine project located in Junin, Peru and an approximate 31. 3% interest in GB Minerals
Ltd. which owns the Farim Proj ect, a high-grade phosphate mine projec t located in Farim, Guinea
Bissau.
About The Blueshirt Group
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Group has earned its reputation as a leader in in vestor relations (IR), financial communications,
financial media relations and crisis managemen t. For more information, please visit
http://www.blueshirtgroup.com.
Forward-Looking Statements
This news release contains forwar d-looking information (“FLI”) regarding future events or the future
performance of Itafos. Generally, FLI can be ident ified by expressions of belief, expectation or
intention, and often contain words su ch as “anticipates”, “believes”, “expects”, “estimates”, “intends”,
“plans”, “could”, “may”, “might”, “should”, “would” or variations of such words. FLI is based on various
assumptions, including with respect to fertilizer ma rket growth, reserves and resources, mine life,
production, operating costs, product sales and pric ing, capital expenditure s, financing sources and
use of funds, operations and financial perfo rmance and business pros pects and opportunities,
including with respect to acquisi tions and other strategic transacti ons. While Itafos considers these
assumptions to be reasonable based on information currently available, such assumptions may
prove to be incorrect as FLI is subject to vari ous risks and uncertainties t hat could cause actual
events or results to differ materially from those projected. These risks and uncertainties include, but
are not limited to: variations from Itafos’ as sumptions regarding the matters mentioned above;
changes in the agriculture, fertilizer, commodity , raw material, energy, transportation and financial
market conditions and prices; fluctuations in currency exchange rates; changes in government policy
and in environmental and other gover nmental regulation; inability to obtain necessary permits and
licenses; timing and outcome of cu rrent and pending government and third party claims or lawsuits;
ability to attract and retain skilled em ployees with relevant industry expertise; imprecision in mineral
reserves and resources estimates; certainty of supply of raw materi als; intermittency of operations
and production; increases in produ ction costs; ability to sell pr oduct; credit risk of offtake
counterparties; ability to effect ively finance, close and integrate any future developments and/or
acquisitions; catastrophic events such as fires, fl oods, explosions, release of hazardous chemicals
and seismic events; insurance and uninsured risks, as well as other risks and uncertainties reported
by Itafos from time to time in its Management’s Discussion and Analysis filed with the securities
regulatory authorities in Canada and available at www.sedar.com.
FLI should not be read as a guarantee of future event s or results. You are cautioned not to put
undue reliance on FLI. FLI included in this news releas e is expressly qualified by this cautionary
statement and is made as of the date of this news release. Itafos does not undertake any obligation
to publicly update or revise any FLI except as required by applicable securities laws.
Neither the TSXV nor its Regulati on Services Provider (as that term is defined in policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Itafos
Brian Zatarain, Chief Executive Officer
www.itafos.com
The Blueshirt Group
Gary Dvorchak, CFA
Managing Director
+1 (323) 240-5796