Pan American Fertilizer Corp. (
TSX: V.PFE,
Stock Forum) announced the appointment of Dr. Robert Rennie as Executive Chairman of the company effective Nov. 1, 2013, adding momemtum to a stock pop that saw shares rise 39.1% Wednesday, to level out at $0.16 a share.
Shares traded at $0.07 two days ago, but have been a hot commodity since, rising to $0.075 Tuesday before today's pop.
According to the
Pan American Fertilizer press release, as Executive Chairman, Dr. Rennie will assume leadership of the Pan American Fertilizers' board of directors and will also have an active management role in implementing Pan American's strategy to become a fully integrated fertilizer company focused on the growing South American agricultural markets.
Randy Wright, currently Pan American's CEO and Chairman will remain as CEO but will now be Vice-Chairman of the Pan American board of directors in order to focus on the company's operations in Argentina.
Dr. Rennie has over 27 years of experience in the global fertilizer industry. He is currently Chairman of AVAC Ltd., an Alberta based private venture capital company that has invested over $130 million in early stage start-up companies in value added agriculture, information technology and health care.
From 2005 to 2012 Dr. Rennie was President and CEO of
Spur Ventures Inc. (
TSX: T.SVU,
Stock Forum), a Vancouver-based company developing a $300 million phosphate mining and manufacturing complex in China. Spur sold its stake in China to its Chinese joint venture partner in early 2012.
Prior to Spur, Dr. Rennie was Vice President International and Vice President Corporate Relations for
Agrium Inc. (
TSX: T.AGU,
Stock Forum), one of the worlds' largest fully integrated fertilizer companies. As VP International he was responsible for starting Agrium's wholesale fertilizer and growing their retail agricultural business in Argentina. As VP Corporate Relations he represented Agrium in its various political and environmental dealings with the US, Canadian and Argentine governments.
Pan American is a Canadian company dedicated to providing fertilizer to growing global markets specifically in South and Central America.
The company had a market cap of $5.5 million, based on 34.2 million shares outstanding.
FULL DISCLOSURE: Pan American Fertilizer is a Stockhouse Publishing client, but this article was not paid content.
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