HOUSTON, March 26, 2026 (GLOBE NEWSWIRE) -- Itafos Inc. (TSX-V: IFOS) (the “Company”) announced today that the Company has granted, in the aggregate, 477,535 restricted share units (“RSUs”) and 32,738 deferred share units (“DSUs”) to directors and officers of the Company. The RSUs and DSUs granted to directors are scheduled to vest on a one-third per annum basis over a three-year period. The RSUs granted to officers are based on a combination of time and performance with 50% of the RSUs vesting 1/3 on the a ...

Company Overview - Itafos Inc. is a phosphate and specialty fertilizer company with operations across three continents, headquartered in Houston, Texas, and trades on the TSX Venture Exchange under the ticker "IFOS" and on the OTCQX under "ITFS" [2] - The principal shareholder of Itafos is CL Fertilizers Holding LLC, an affiliate of Castlelake, L.P., a global private investment firm [2] Upcoming Events - Itafos will present at the Sidoti Small Cap Conference on March 19, 2026, at 3:15 EST, with registration available for the virtual event [1] Production Capacity - The company has several production facilities, including: - Conda in Idaho, US, with a capacity of approximately 550,000 tons per year for various phosphate products and 27,000 tons per year of hydrofluorosilicic acid [6] - Arraias in Brazil, targeting approximately 275,000 tons per year of single superphosphate and other products, with a gross sulfuric acid production capacity of 220,000 tons per year [6] - Farim, a high-grade phosphate mine project in Guinea-Bissau [6] - Santana, a vertically integrated phosphate mine and fertilizer plant project in Pará, Brazil [6]

Core Viewpoint - Itafos Inc. will release its financial results for Q4 2025 and the full year 2025 on March 18, 2026, with a recorded webcast available on March 23, 2026, to discuss these results and provide business updates [1]. Company Overview - Itafos is a phosphate and specialty fertilizer company with operations across three continents, headquartered in Houston, Texas, and trading on the TSX Venture Exchange under the ticker "IFOS" and on the OTCQX under "ITFS" [2]. Production Capacity - The company has several production facilities: - Conda, Idaho, US: - Approximately 550,000 tons per year of MAP, MAP+, SPA, merchant grade phosphoric acid, and APP - Approximately 27,000 tons per year of hydrofluorosilicic acid [7] - Arraias, Tocantins, Brazil: - Proposed production targets include approximately 275,000 tons per year of single superphosphate, PAPR, and DAPR - Additional targets of approximately 170,000 tons per year of SSP, 60,000 tons per year of PAPR, and 45,000 tons per year of DAPR - Approximately 40,000 tons per year of excess sulfuric acid [7] - Farim, Guinea-Bissau: A high-grade phosphate mine project [7] - Santana, Pará, Brazil: A vertically integrated high-grade phosphate mine and fertilizer plant project [7]

Core Viewpoint - Itafos Inc. has appointed Joseph McConnell to its Board of Directors, effective January 16, 2026, replacing Isaiah Toback as a nominee from the principal shareholder, CL Fertilizers Holding LLC [1][2]. Group 1: Appointment Details - Joseph McConnell's appointment is expected to enhance the Board's oversight and guidance capabilities, bringing valuable skills and perspectives to advance the Company's business objectives [2]. - Anthony Cina, Chairman of the Board, expressed gratitude for Isaiah Toback's contributions to the Company [2]. Group 2: Background of Joseph McConnell - Mr. McConnell is a Partner at Castlelake, L.P., an affiliate of CLF, and serves as Deputy Co-Chief Investment Officer, responsible for the firm's global investment strategy across various asset classes [2][3]. - He has been with Castlelake since 2007 and became a partner in 2017, previously holding roles in portfolio management and investment, including co-head of the Aviation and Real Assets businesses [3]. Group 3: Company Overview - Itafos is a phosphate and specialty fertilizer company with operations and projects across three continents, headquartered in Houston, Texas [4]. - The Company's shares are traded on the TSX-V under the ticker "IFOS" and on the OTCQX under the ticker "ITFS" [4].

Core Insights - Itafos Inc. reported Q2 2025 financial results, highlighting higher production volumes and revenues despite increased input costs [1][2][3] Financial Performance - Q2 2025 revenues reached $126.8 million, up from $105.1 million in Q2 2024, while adjusted EBITDA slightly decreased to $31.8 million from $32.8 million [8] - Net income for Q2 2025 was $24.8 million, compared to $16.2 million in Q2 2024, primarily due to fair value gains on investments and lower finance expenses [6][8] - Free cash flow for Q2 2025 was $10.8 million, down from $42.5 million in Q2 2024 [8] Production and Operations - The company produced 79,606 tonnes of P2O5 in Q2 2025, an increase from 69,532 tonnes in Q2 2024, attributed to a shorter turnaround period [22][32] - At Arraias, production of sulfuric acid increased to 36,349 tonnes in Q2 2025 from 16,652 tonnes in Q2 2024, driven by higher customer demand [34] Market Outlook - Phosphate fertilizer prices increased significantly in Q2 2025, with MAP New Orleans prices averaging $690/st, up 24% year-over-year [18][12] - The company expects strong phosphate pricing to continue through the second half of 2025, supported by sustained global fertilizer demand and ongoing export restrictions from China [14][16] Capital Expenditures - Total capex for Q2 2025 was $28.8 million, a decrease from $30.2 million in Q2 2024, primarily due to a planned short turnaround [7][11] - The company has approved a capital project for a new processing facility to reduce magnesium content in ore from the H1/NDR mines [4][26] Corporate Developments - The company is focused on extending the mine life at Conda through a multi-year exploration program with an expected annual cost of $6-8 million [27][31] - As of June 30, 2025, the company had a net debt of $(2.5) million, reflecting higher cash and lower debt levels [19][20]

Company Overview - Itafos Inc. is a phosphate and specialty fertilizer company headquartered in Houston, Texas, and trades on the TSX-V under the ticker "IFOS" [2] - The principal shareholder of Itafos is CL Fertilizers Holding LLC, an affiliate of global private investment firm Castlelake, L.P. [2] Business Operations - The company operates several vertically integrated phosphate fertilizer businesses, including: - Conda in Idaho, US, with a production capacity of approximately 550,000 tons per year of various phosphate products [5] - Arraias in Tocantins, Brazil, with a production capacity of approximately 500,000 tons per year of single superphosphate and related products [5] - Farim, a high-grade phosphate mine project located in Guinea-Bissau [5] - Santana, a vertically integrated high-grade phosphate mine and fertilizer plant project located in Pará, Brazil [5] Upcoming Events - Itafos will present at the Sidoti Small Cap Conference on June 12, 2025, at 4:00 PM EDT [1]