New CLF Director Appointment Press
New CLF Director Appointment Press
Release - 1.16.26 (Final).docx
News Release
TSX-V: IFOS, OTCQX: ITFS
ITAFOS ANNOUNCES APPOINTMENT OF NEW DIRECTOR
HOUSTON, TX – January 16, 2026 – Itafos Inc. (TSX-V: IFOS) (OTCQX: ITFS) (t he “Company”) today announced the appointment of
Joseph McConnell to its Board of Direct ors, effective January 16, 2026. Mr. McConne ll replaces Isaiah Toback as a nominee to th e
Company’s Board of Directors by its principal shareholder, CL Fertilizers Holding LLC (“CLF”), pursuant to an investor rights agreement
between the Company and CLF.
"We are pleased to announce the appointment of Joe to the Board of Directors. His experience and expertise will strengthen the
Board’s ability to provide oversight and guidance, bringing valuable skills and new perspectives as the Company advances its business
objectives and strategic initiatives,” stated Anthony Cina, Chairman of the Company’s Board of Directors.
Mr. Cina added, “On behalf of the Board, I would also like to thank Isaiah for his contributions to the Company.”
Mr. McConnell is a Partner at Castlelake, L.P. (“Castlelake”), an affiliate of CLF, and is Deputy Co-Chief Investment Officer. Mr.
McConnell joined Castlelake in 2007 and is responsible for guiding and executing the firm’s global investment strategy across asset
classes, overseeing the firm’s Opportunistic Asset Solutions and Aviation fund portfolios, and supporting the growth and development
of its investment teams. He is also a member of the firm’s Executive Committee and its Investment Review Committee and is a Director
of Castlelake’s aircraft securitizations.
Mr. McConnell became a partner of the firm in 2017 and has previously served in portfolio management and investment roles, including
co-head of the firm’s Aviation and Real Assets businesses. Prior to joining Castlelake, Mr. McConnell worked in Piper Sandler’s
investment banking division. Mr. McConnell received his B.S.B. in finance and accounting from the Carlson School of Management at
the University of Minnesota, summa cum laude.
About Itafos
The Company is a phosphate and specialty fertilizer company with businesses and projects spanning three continents:
Conda – a vertically integrated phosphate fertilizer business lo cated in Idaho, US, with the following production capacity:
- approximately 550kt per year of MAP, MAP with micronut rients (“MAP+”), superphosphoric acid (“SPA”), merchant grade
phosphoric acid (“MGA”) and ammonium polyphosphate (“APP”)
- approximately 27kt per year of hydrofluorosilicic acid (“HFSA”)
Arraias – a vertically integrated phosphate fertilizer business loc ated in Tocantins,Brazil, with the following production capacity:
- approximately 500kt per year of single super phosphate (“SSP”) and SSP with micronutrients (“SSP+”)
- approximately 40kt per year of excess sulfuric acid (220kt per year gross sulfuric acid production capacity)
Farim – a high-grade phosphate mine project located in Farim, Guinea-Bissau; and
Santana – a vertically integrated hi gh-grade phosphate mine and fertilizer plant project located in Pará, Brazil
The Company is a Delaware corporation headquartered in Houston, Texas. The Company’s shares trade on the TSX-V under the ticker
“IFOS”. The Company’s shares also trade in the US on the OTCQX® Best Market (“OTCQX”) under the ticker symbol “ITFS”. The
Company’s principal shareholder is CLF. CLF is an affiliate of global private investment firm Castlelake.
For more information, or to join the Company’s mailing list, please visit 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. Statements that address activities, events or developments that the Company believes,
expects or anticipates will or may occur in the future include, but are not limited to, statements regarding estimates and/or assumptions
in respect of the Company’s financial and business outlook are 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.
The forward-looking information contained in this news rel ease is based on the opinions, assu mptions and estimates of managemen t,
some of which are set out herein, which management believes are reasonable as at the date the statements are made. Those opinions,
assumptions and estimates are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could
cause actual events or results to differ materially from those projected in the forward-looking information.
Although the Company has attempted to identify crucial factors that could cause actual actions, events or results to differ materially from
those described in the forward-looking info rmation, there may be other fa ctors that cause actions, events or results not to be as
New CLF Director Appointment Press
Release - 1.16.26 (Final).docx
anticipated, estimated or intended. Additional risks and uncertainti es affecting the forward-looking information contained in t his news
release are described in greater detail in the Company’s Annual Information Form and current Management’s Discussion and Analysis
available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.itafos.com. There can
be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such information. The reader is cautioned not to place undue reliance on forward-looking information. The Company
undertakes no obligation to update forward-l ooking statements if circumst ances or management’s estimates, assumptions or opinions
should change, except as required by applicable securities law. 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.
NEITHER THE TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-
V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Contacts:
For Investor Relations:
Matthew O’Neill
Executive Vice President & Chief Financial Officer
713-242-8446
For Media:
Alliance Advisors IR
Fatema Bhabrawala
Director, Media Relations
647-620-5002