TORONTO, Aug. 16, 2012 /PRNewswire/ - MBAC Fertilizer Corp. ("MBAC" or the "Company") (TSX:MBC andOTCQX:MBCFF) is pleased to announce that the Board of Directors of the Company has appointed Rodrigo Pinto, CA as Vice President, Finance and Chief Financial Officer. Mr. Pinto has served as the Interim CFO at the Company since accepting the position in June 2012.
Mr. Pinto has been with the Company since October 2009 as Corporate Controller. He is a Chartered Accountant, a Certified Public Accountant in the United States, and also holds the equivalent of a CPA designation in Brazil. Rodrigo brings a wealth of knowledge in mining accounting and finance having spent 15 years in accounting, auditing, consulting and finance roles with major companies including PricewaterhouseCoopers LLP, Yamana Gold Inc. and TD Bank.
Antenor Silva, Vice Chairman and CEO, stated ""Rodrigo has been a valuable member of the finance team since joining the Company approximately three years ago. Over the last several months, Rodrigo has proven to our management team and the Board of Directors that he is ready to take on the role of CFO for the Company. We believe that his experience and expertise will allow the Company to continue to focus on its corporate and financial objectives."
MBAC is focused on becoming a significant integrated producer of phosphate and potash fertilizers 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.
Vice Chairman & Chief Executive Officer
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. 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. 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. The company does not undertake any obligation to update forward-looking statements except in accordance with applicable securities laws.
SOURCE MBAC Fertilizer Corp.