Vancouver, B.C., Canada. October 23, 2013 - Pan American Fertilizer Corp. (TSX.V: PFE, Frankfurt: 6GF) (the "Company" or "Pan American") is pleased to announce the appointment of Dr. Robert Rennie as Executive Chairman of the company effective November 01, 2013.
As Executive Chairman, Dr. Rennie will assume leadership of the Pan American Fertilizers' board of directors and will also have an active management role in implementing Pan American's strategy to become a fully integrated fertilizer company focused on the growing South American agricultural markets. Mr. Randy Wright, currently Pan American's CEO and Chairman will remain as CEO but will now be Vice-Chairman of the Pan American board of directors in order to focus on the company's operations in Argentina.
"I am delighted to welcome Dr. Robert Rennie as Executive Chairman of the Company," said Randy Wright, Vice-Chairman and company CEO. "His depth of industry knowledge will continue to solidify the base from which our company can continue to grow. As we expand our market share, the company will benefit from his expertise and hands on experience, specifically in the international markets that we are considering."
Dr. Rennie has over 27 years of experience in the global fertilizer industry. He is currently Chairman of AVAC Ltd., an Alberta based private venture capital company that has invested over $130 million in early stage start-up companies in value added agriculture, information technology and health care. From 2005 to 2012 Dr. Rennie was President and CEO of Spur Ventures Inc., a Vancouver-based company developing a $300 million phosphate mining and manufacturing complex in China. Spur sold its stake in China to its Chinese joint venture partner in early 2012. Prior to Spur, Dr. Rennie was Vice President International and Vice President Corporate Relations for Agrium Inc., one of the worlds' largest fully integrated fertilizer companies. As VP International he was responsible for starting Agrium's wholesale fertilizer and growing their retail agricultural business in Argentina. As VP Corporate Relations he represented Agrium in its various political and environmental dealings with the US, Canadian and Argentine governments.
Dr. Rennie earned a PhD from the University of Minnesota in soil microbiology, a M.Sc. from Universite Laval in soil chemistry and a B.S.A. (Honours) from the University of Saskatchewan in soil science. He has extensive experience in international agriculture and agriculture R&D serving first as an Officer with the International Atomic Energy Agency and Food and Agriculture Organizations of the United Nations in Vienna, Austria and then as a scientist with Agriculture Canada. Dr. Rennie was Vice Chairman of the Agriculture Committee of the International Fertilizer Industry Association (IFA) and Co-Chairman of the Alberta Life Sciences Institute and a member of the Board of the Alberta Science and Research Authority. He is on the Board of the Agriculture Biotechnology International Committee (ABIC) and was recently co-chair of the ABIC 2013 conference held in Calgary.
Dr. Rennie is fluent in English, French, Spanish and German and includes travel, long-distance running
and reading in his hobbies.
About Pan American Fertilizer Corp.
Pan American is a Canadian company dedicated to providing fertilizer to growing global markets specifically in South and Central America. The company is focused on the extraction of a specific type of fertilizer called calcium sulphate (also referred to as "Agricultural Gypsum") currently in Argentina. To ensure long term development and increase shareholder value, Pan American currently plans to significantly expand its current operational objectives while expanding its asset base by acquiring additional calcium sulphate and other fertilizer related assets and by expanding its markets to countries neighbouring Argentina.
The Calcium Sulphate project is a unique project, for the following reasons:
1)Its high grade calcium sulphate (CaSO4) rock outcrops and is fully permitted and in operations via conventional extraction methods with secured mining rights for 20 years with right to extend for another 20 years, allowing for scalable operations;
2)It is strategically located in close proximity to the well-known "Nucleus Agricultural Zones" of South America where the majority of the continents important and dynamic agribusiness activity is located;
3)It connects to Paraguay and Brazil's largest fertilizer distribution districts via existing and high quality infrastructure;
4)It has the potential to supply CaSO4 to South America's agriculture market from its large calcium sulphate-rich deposit.
When used as a fertilizer and as a soil remediator, calcium sulphate is a soft sulphate mineral composed of calcium sulphate dihydrate (CaSO4o2H2O) which is extremely rich in sulphur and calcium. When dissolved in water, the mineral becomes calcium and sulphate sulphur ions, both of which are required nutrients for plants. Calcium Sulphate plays a vital role in establishing and maintaining good chemical balance in soil, water and plants, specifically with healthy root development. Ultimately, calcium sulphate increases overall crop quality and yields. For more information please look at our website www.PAFertilzer.com
On behalf of the Board of Directors of Pan American Fertilizer Corp.
Vice-Chairman and Chief Executive Officer
Forward Looking Statements
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation), including Statements contained in this news release that are not historical facts constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date of this release. The words "is expected" or "estimates" or variations of such words and phrases or statements that certain actions, events or results "may" or "could" occur and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Pan American as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Many of these factors can affect Pan American's actual results and could cause actual results to differ materially from those expressed or implied in any forward looking statements made by, or on behalf of, Pan American. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future.
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