Itafos Receives an Advance IN the Amount of US$4,500,000
ITAFOS RECEIVES AN ADVANCE IN THE AMOUNT OF US$4,500,000
TORONTO, ON – September 9, 2017 – Itafos (TSX VENTURE: IFOS) (“Itafos”) announced today that it
has received an advance (the “ Advance”) in the amount of US$4,500,000 from Zaff LLC (“ Zaff”). The
Advance is evidenced by an unsecured promissory note that is pre-payable, in whole or in part, at any
time, bears interest at a rate of 15% per year and matures on February 28, 2018. It is expected that the
proceeds of the Advance, together with available cash, will be used primarily for the ramp-up of the Itafos
Arraias SSP Operations, the contin ued implementation of business development initiatives and general
corporate purposes.
Zaff is a “related party” to Itafos under Multilateral Instrument 61-101 Protection of Minority Security
Holders in Special Transactions (“MI 61-101 ”) by virtue of its shareholdi ng being in excess of 10% of
Itafos’s issued and outstanding share capital. Accord ingly, the Advance from Zaff is a “related party
transaction” under MI 61-101. The transaction is exempt from (i) the formal valuation requirements under
Section 5.4 of MI 61-101 pursuant to Subsection 5.5( a) of MI 61-101; and (ii) the minority approval
requirements under Section 5.6 of MI 61-101 pursuant to either Subs ection 5.7(1)(a) or Subsection
5.7(1)(f) of MI 61-101.
About Itafos
Itafos is focused on becoming a significant integrated producer of phosphate based fertilizers and related
products. Itafos has an ex perienced team with signi ficant experience in t he business of fertilizer
operations, management, marketing and finance. It afos owns and operates the Itafos Arraias SSP
Operations, which consists of an integrated fertilizer producing facility compri sed of a phosphate mine, a
mill, a beneficiation plant, a sulphuric acid plan t, an SSP plant and a granulation plant and related
infrastructure located in central Brazil. Itafos’ exploration portfolio includes a number of additional projects
in Brazil, including the Santana Project, a high-grad e 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 existi ng local infrastructure. In addition, Itafos owns an
approximate 31.3% interest in GB Minerals which owns the Farim Project, a high-grade phosphate
deposit located in Guinea Bissau and a 100% 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.
About The Blueshirt Group
The Blueshirt Group provides capital markets exper tise and strategic financial and media relations
counsel to growth companies and venture capital firms globally. Founded in 1999, The Blueshirt Group
has earned its reputation as a leader in investor relations (IR), financial communications, financial media
relations and crisis management.
Forward Looking Statements
This news release contains forward-looking information (“ FLI”) regarding future events or the future
performance of Itafos and its affiliates. Generally, FLI can be identified by expressions of belief,
expectation or intention, and often contain words such 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 operations at the Itafos Arraias SSP Operations and other
projects, technical feasibility, resources and rese rves, mine life, financing sources and use of funds,
growth of Brazilian and global fertiliz er markets, results of operations , performance, business prospects
and opportunities. While Itafos considers these assumptions to be reasonable based on information
currently available, such assumptions may prove to be incorrect. FLI is subj ect to various risks and
uncertainties that could cause actual events or result s to differ materially from those projected. These
risks and uncertainties include, but are not limited to, variations from Itafos’ assumptions regarding the
matters mentioned above; the timing and outcome of current and pending environmental claims or
lawsuits; imprecision in mineral reserves and resour ces estimates; changes in the agriculture, energy,
fertilizer, financial, raw material and transportation market conditions; fluctuations in commodity prices
and currency exchange rates; inability to obtain nec essary permits; insura nce and uninsured risks;
potential increases in production costs; Itafos’ ability to effectively integrate any future acquisitions into its
business structure; changes in government po licy and in environmental and other governmental
regulation; Itafos’ ability to attract and retain sk illed employees with relevant industry expertise;
catastrophic events such as fires, floods, explosions, release of hazardous chemicals and seismic events,
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 events or results. You are cautioned not
to put undue reliance on FLI.
For more information, please visit http://www.blueshirtgroup.com.
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.
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