ITAFOS ANNOUNCES RSU AWARDS
27 March 2020 - 11:00AM
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 involves 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 correct 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 anticipated 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 results 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 undertakes 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 VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information, please
contact:
Itafos Investor
Relationsinvestor@itafos.comwww.itafos.com
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