TSX:MBC
OTCQX:MBCFF
Shares Outstanding:152,029,492
Fully Diluted:161,252,908
TORONTO, June 28, 2013 /CNW/ - MBAC Fertilizer Corp. ("MBAC" or the "Company") (TSX:MBC and OTCQX:MBCFF) is pleased to announce that it has now received the final operating
license (the "Licença de Operação" or the "Operating License") from the
Tocantins State Environmental Agency ("Naturatins" or the "Agency") to
operate all plants, including the sulphuric acid plant, the SSP plant
and the granulation plant at the Itafós Arraias Single Super Phosphate
("SSP") Project ("Itafós" or the "Itafós Project"). The Governor of
the Tocantins State, Wilson Siqueira Campos, delivered the Operating
License to the Company at an official ceremony held in Palmas,
Tocantins this morning. The Brazil Environment Minister, Izabella
Teixeira, and the mayor of the city of Arraias, Cacildo Vasconcellos
were in also attendance at the ceremony. Roberto Busato Belger, the
President and COO of the Company also attended the ceremony on behalf
of MBAC.
The issuance of the Operating License by Naturatins represents a
significant milestone as it is the final regulatory approval required
for Itafós to start operations as an integrated SSP producer.
At the event, Roberto Busato Belger, and the Governor of Tocantins State
commented that Arraias is now an important part of a newly organized
industrial district as Itafós is the first large scale fertilizer
producer of the Cerrado area. Both also emphasized the significance of
the large investment made through having Itafós in the region. Itafós
is expected to bring significant benefits for local farmers by
supplying quality fertilizer with reduced logistics costs as well as to
the community it serves with the additional jobs, social programs and
infrastructure.
With the issuance of the Operating License which represents the final
stamp of approval from the State authorities, the Company believes that
the timeline for the Project remains consistent with previously
disclosed expectations.
About MBAC
MBAC is focused on becoming a significant integrated producer of
phosphate and potash 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. Since late 2012, such operations have been phased out as the
Company completed the construction of the Itafós Arraias SSP Project.
MBAC's exploration portfolio also 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.
FORWARD LOOKING STATEMENTS
This press release contains "forward-looking statements" within the
meaning of applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements related to
activities, events or developments that the Company expects or
anticipates will or may occur in the future, including, without
limitation, statements related to the Company's business strategy,
objectives and goals; the expectation of Itafós becoming a significant
integrated producer of phosphate and potash fertilizers and related
products in the Brazilian and Latin American markets and bringing
significant benefits to local rural farmers with the supply of quality
fertilizer at reduced logistics costs, as well as to the community it
serves with the additional jobs, social programs and infrastructure,
the expectation in relation to Itafós being completed within the
disclosed timeline. Forward-looking statements are often 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 factors
and assumptions made by management and considered reasonable at the
time such statements are made, and forward-looking statements involve
known and unknown risks, uncertainties and other factors may cause the
actual results, performance or achievements to be materially different
from those expressed or implied by the forward-looking statements. Such
risk factors include, among others, the Company not being successful at
becoming a significant integrated producer of phosphate and potash
fertilizers and related products in the Brazilian and Latin American
markets, the anticipated benefits from the Itafós Project to local
farmers and the community not being recognized, the expectation in
relation to Itafós being completed within the disclosed timeline, as
well as those factors disclosed in the Company's current Annual
Information Form and Management's Discussion and Analysis, as well as
other public disclosure documents, 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. The forward-looking statements
contained herein are presented for the purposes of assisting investors
in understanding the Company's plan, objectives and goals and may not
be appropriate for other purposes. Accordingly, readers should not
place undue reliance on forward-looking statements.
SOURCE: MBAC Fertilizer Corp.
