/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES./
TSX:MBC
OTCQX:MBCFF
Shares Outstanding:152,029,492
Fully Diluted:161,252,908
TORONTO, April 16, 2013 /CNW/ - MBAC Fertilizer Corp. ("MBAC" or the "Company") (TSX:MBC) (OTCQX:MBCFF) is pleased to announce that it has completed its previously announced
bought deal private placement, including the partial exercise of the
Underwriters' Option, for aggregate gross proceeds of approximately
$51.7 million (the "Offering"). A total of 23,479,128 common shares of
the Company (the "Offered Shares"), inclusive of those issued pursuant
to the partial exercise of the Underwriters' Option, were issued and
sold by the Company at a price of $2.20 per Offered Share. The Offering
was completed through a syndicate of underwriters led by Canaccord
Genuity Corp., and including National Bank Financial Inc. and BMO
Nesbitt Burns Inc. (the "Underwriters").
The net proceeds of the Offering are intended to be used by the Company
for the completion of the Itafós Project, for working capital and
general and administrative purposes. The Offered Shares will be subject
to a four month hold period under applicable Canadian securities
legislation.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities of MBAC Fertilizer Corp. in
the United States, nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful. The securities offered have not been and will not be
registered under the United States Securities Act of 1933, as amended
(the "U.S. Securities Act") or any U.S. state securities laws and may
not be offered or sold within the United States or to, or for the
account or benefit of, U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or unless an
exemption from such registration is available.
About MBAC
MBAC is focused on becoming a significant integrated producer of
phosphate and potash-based fertilizers and related products in the
Brazilian and Latin American markets. MBAC has an experienced team with
significant experience in the business of fertilizer operations,
management, marketing and finance within Brazil. In October 2008, MBAC
acquired Itafós Mineração Ltda., which consisted of a phosphate mine, a
mill and plant and related infrastructure, all located in central
Brazil. MBAC's exploration portfolio includes a number of additional
exciting phosphate and potash projects, which are also located in
Brazil. The Santana Phosphate Project is a high grade phosphate deposit
located in close proximity to the largest fertilizer market of Mato
Grosso State and animal feed market of Pará State. The Company
continues to search for additional fertilizer opportunities in the
Brazilian and other Latin-American markets, where strong agricultural
fundamentals and unique opportunities are expected to provide
attractive growth opportunities in the near future. Further information
on MBAC can be found on the Company's website at www.mbacfert.com and on SEDAR at www.sedar.com.
Antenor Silva
Vice Chairman & Chief Executive Officer
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Forward-looking statements
include, but are not limited to, statements that address activities,
events or developments that the Company expects or anticipates will or
may occur in the future, including such things as the completion of
Itafós and the advancement of the Santana projects in Brazil and the
expected use of proceeds from the offering.
Often, but not always, forward-looking statements can be identified by
the use of words such as "plans", "planning", "planned", "expects" or
"looking forward", "does not expect", "continues", "scheduled",
"estimates", "forecasts", "intends", "potential", "anticipates", "does
not anticipate", or "belief", or describes a "goal", or variation of
such words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved.
Forward-looking statements are based on a number of material factors and
assumptions made by management and considered reasonable at the time
such assumptions were made, including, Company's view of becoming a significant integrated producer of phosphate and potash fertilizers
and related products in the Brazilian and Latin American markets.
Forward-looking statements involve known and unknown risks, future
events, conditions, uncertainties and other factors may cause the
actual results, performance or achievements to be materially different
from any future results, prediction, projection, performance or
achievements expressed or implied by the forward-looking statements.
Such factors include, among others, the interpretation and actual
results of current exploration activities; changes in project
parameters as plans continue to be refined; future commodities' price;
possible variations in grade or recovery rates; failure of equipment or
processes to operate as anticipated; the failure of contracted parties
to perform; labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing or in the
completion of exploration, as well as those factors disclosed in the
Company's current annual information form and management's discussion
and analysis all available on SEDAR at www.sedar.com. Although MBAC has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. The forward-looking statements contained herein are
presented for the purpose of assisting investors in understanding the
Company's current plans, objectives and expectations and may not be
appropriate for other purposes. Accordingly, readers should not place
undue reliance on forward-looking statements.
SOURCE: MBAC Fertilizer Corp.
![](http://rt.newswire.ca/rt.gif?NewsItemId=C5598&Transmission_Id=201304161018CANADANWCANADAPR_C5598&DateId=20130416)
Steve Burleton, Vice President Corporate Development, at 416-367-2200, investor@mbacfert.com or visit our website at: www.mbacfert.com