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Itafos Inc V.IFOS

Alternate Symbol(s):  MBCF

Itafos Inc. is a phosphate and specialty fertilizer company. Its businesses and projects include Conda, Arraias, Farim, Santana and Araxa. Conda is a vertically integrated phosphate fertilizer business located in Idaho, United States with a production capacity of over 550 Kiloton (kt) per year of mono ammonium phosphate (MAP), merchant grade phosphoric acid (MGA) and ammonium polyphosphate (APP), and approximately 27kt per year of hydrofluorosilicic acid (HFSA). Arraias is a vertically integrated phosphate fertilizer business located in Tocantins, Brazil with a production capacity of approximately 500kt per year of single superphosphate (SSP) and SSP with micronutrients (SSP+). Farim is a phosphate mine project located in Farim, Guinea-Bissau. Santana is a vertically integrated high-grade phosphate mine and fertilizer plant project located in Para, Brazil. Araxa is a vertically integrated rare earth element and niobium mine and extraction plant project located in Minas Gerais, Brazil.


TSXV:IFOS - Post by User

Bullboard Posts
Comment by kisstopherpon Dec 23, 2015 12:59pm
107 Views
Post# 24408675

RE:RE:MBAC Provides Update on Its Strategic Review Process

RE:RE:MBAC Provides Update on Its Strategic Review Process
LeMarcus wrote: They Leaking the Partner!

https://www.alphaipartners.com/index.aspx

ompong12 wrote:

MBAC Provides Update on Its Strategic Review Process

12/23/2015

TORONTO, ON --(Marketwired - December 23, 2015) - MBAC Fertilizer Corp. ("MBAC" or the "Company") (TSX: MBC) today announced that it is continuing negotiations with an investment fund active in the fertilizer industry (the "Offeror"). The parties have mutually agreed to further extend the letter of intent between the parties, which contains an exclusivity clause and the deadline for entering into definitive binding documentation, to December 31, 2015.

As a sign of its continuing commitment to pursuing a potential transaction, the Offeror has increased its bridge loan to the Company with advances totalling US$1.04 million, bringing the total amount that the Offeror has made available to MBAC under bridge loans to US$2.79 million. The proceeds of the new advances under the bridge loans are being used to settle outstanding labour claims and to fund general and administrative expenses. The bridge loans are secured and carry an interest rate of 15% per annum and a maturity date of (a) the earlier of (i) 180 days following the date of advance and (ii) termination of the letter of intent between MBAC and the Offeror or (b) a later date as Alpha and MBAC may mutually agree.

There is no assurance that the potential transaction will be successfully agreed and concluded. In addition, the final terms and conditions of the potential transaction will be subject to all necessary approvals including the approval of the boards of directors of MBAC and the Offeror, the shareholders of MBAC as well as applicable regulatory authorities, including the Toronto Stock Exchange. Both MBAC and offeror are permitted to terminate the non-binding letter of intent at any time should either party determine not to proceed with a transaction.

There can be no assurances that the Company will pursue or complete a business transaction or sale under its strategic process nor that a business transaction or sale will provide any value to all or any stakeholders.





They already did in the MD&A. We've known it's Alpha. 
 

They are involved with GB Minerals. 
 

Why didn't they do this on the 15th? Date is now only the 31st. 

Bullboard Posts