TSX:MBC
OTCQX:MBCFF
Shares Outstanding:181,607,492
Fully Diluted:230,606,330
TORONTO, May 13, 2014 /CNW/ - MBAC Fertilizer Corp.
("MBAC" or the "Company") (TSX:MBC and
OTCQX:MBCFF) today announced the voting results on the election
of directors from its 2014 Annual Meeting of Shareholders
("AGM").
A total of 97,113,011 shares representing 63.8% of the issued
and outstanding shares were voted at the AGM. The voting results on
the election of directors are as follows:
Name
|
Votes in
Favour
|
%
|
Votes
Withheld
|
%
|
Peter
Marrone
|
94,920,023
|
99.96%
|
37,752
|
0.04%
|
Antenor
Silva
|
94,918,223
|
99.96%
|
39,552
|
0.04%
|
Leonardo Marques da
Silva
|
84,088,123
|
88.55%
|
10,869,652
|
11.45%
|
Alexander
Davidson
|
84,050,623
|
88.51%
|
10,907,152
|
11.49%
|
Denis C.
Arsenault
|
84,054,823
|
88.52%
|
10,902,952
|
11.48%
|
David R.
Peterson
|
82,751,898
|
87.15%
|
12,205,877
|
12.85%
|
David
Nierenberg
|
84,055,623
|
88.52%
|
10,902,152
|
11.48%
|
Cristiano
Melcher
|
94,885,523
|
99.92%
|
72,252
|
0.08%
|
Shareholders also voted in favour of the
reappointment of Pricewaterhousecoppers LLP as the auditors of the
Corporation until the close of the next annual meeting of
shareholders.
At the meeting, the Company provided a corporate
update to shareholders, details of which can be found at the
Company's website www.mbacfert.com.
About MBAC
MBAC is focused on becoming a significant
integrated producer of phosphate 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. MBAC owns and operates the
Itafós Arraias SSP Operations which consists of an integrated
fertilizer producing facility comprised of a phosphate mine, a
mill, a beneficiation plant, a sulphuric acid plant, an SSP plant
and a granulation plant and related infrastructure located in
central Brazil ("Itafós
Operations"). The Itafós Operations are estimated to have
production capacity of approximately 500,000 tonnes of SSP per
annum. MBAC's exploration portfolio includes a number of additional
exciting 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 Operations becoming a significant
integrated producer of phosphate fertilizers and related products
in the Brazilian and Latin American markets and the expectation
that Itafós will have a production capacity of approximately
500,000 tonnes of SSP per annum . 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 fertilizers and related products in the Brazilian and
Latin American markets, the risk that Itafós will not be able to
produce 500,000 tonnes of SSP per annum , 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.