Itafos Partially Monetizes Equity Interest in St George Mining Limited

Core Insights - Itafos Inc. has partially monetized its ownership interest in St George Mining Limited, expecting gross proceeds of approximately USD$18.3 million from the sale of 277,893,103 ordinary shares [1][2] - The total gross proceeds received from St George for the sale of the Araxá project now amount to approximately USD$28.3 million, including an initial payment of USD$10 million received in February 2025 [2] - The company aims to strengthen its balance sheet and deliver value to shareholders by monetizing non-core assets [2][3] Financial Details - The transaction involved the sale of 277,893,103 SGQ Shares, with expected proceeds of USD$18.3 million before fees and taxes [1] - The total gross proceeds from the sale of the Araxá project, including future payments, is projected to reach USD$39.3 million [2] - An additional USD$11 million is payable in two installments under the Sale Agreement with St George [2] Company Strategy - The CEO of Itafos emphasized the importance of focusing on core businesses and delivering long-term value to shareholders through the monetization of non-core assets [3] - The appreciation of the equity interest in St George since the sale closing date reflects the company's strategy to capitalize on asset value [3] Company Overview - Itafos is a phosphate and specialty fertilizer company headquartered in Houston, Texas, trading on TSX-V under the ticker "IFOS" and on OTCQX under "ITFS" [4] - The principal shareholder is CL Fertilizers Holding LLC, affiliated with Castlelake, L.P., a global private investment firm [4]