VANCOUVER, BC / ACCESSWIRE / April 2, 2014 / DuSolo Fertilizers Inc., (TSX-V: DSF) (PINK SHEETS: ELGSF.PK) (Frankfurt: E6R.F) ("DuSolo" or "the Company") is pleased to welcome the addition of Mr. Maurício Prado to the Company as the new Project Manager of the Bomfim Agro Mineral Project.
Mr. Prado is a geologist with over 11 years experience working with some of the top mining companies in Brazil including Companhia Vale do Rio Doce ("Vale") and Votorantim Metais Niquel S.A ("Votorantim"). His duties included exploration, mine planning, geostatistics coordination, resource and property evaluation and ore control. Mr. Prado has exposure to a number of commodities including iron ore, nickel, copper, gold, tin, bauxite, fluorine, niobium and specifically phosphate. He has been responsible for both long and short term planning for several open pit mines as well as his vast experience with geometallurgy and geotechnical projects.
Mr. Prado has also studied geostatistics extensively through the Mining Engineering Department of Federal University of Rio Grande do Sul. He is a Member of the Australian Institute of Geoscientists (MAIG) and has the appropriate relevant experience and qualifications under the JORC Code and NI 43-101.
"We are happy to have Mr. Prado join the team. We believe that his addition will provide us with the bandwidth to quickly move forward with both our exploration and DANF production development plans at Bomfim", commented Professor Paulo Amorim, DuSolo's VP of Exploration.
With the hiring of new managers for all of the Company's projects now complete, Mr. Fabio Mendonca, DuSolo's current Exploration Manager, has been promoted and will now assume the role of Vice President (VP) of Business Development. In his new capacity, Mr. Mendonca will be responsible for reviewing, evaluating and developing new phosphate opportunities in Brazil to add to DuSolo's current projects' portfolio. Mr. Mendonca will also be responsible for all dealings with Brazil's governmental agencies such as Brazil's National Mining Agency (DNPM) with respect to filing applications for new licenses and permits, renewals of existing licenses, preparation of technical reports, presentations and work programs.
Furthermore, the Company has granted 250,000 incentive stock options to certain Directors and employees of the Company at a price of $0.24 per share as per the Company's 2013 stock option plan. The options are valid for a period of 5 years expiring April 1st, 2019 and are subject to the provisions of the TSX Venture Exchange.
ABOUT THE COMPANY
DuSolo Fertilizers Inc. is focused on developing a fully integrated process to produce phosphate based fertilizers within the Cerrado region of Brazil as part of a nationwide effort, incentivized by the government to increase supply of domestically sourced fertilizers and achieve agricultural self sufficiency.
The Company's shares are publicly traded on the TSX Venture Exchange under the symbol DSF, on the OTC Pink Sheets under the symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.
On behalf of the Board of Directors
DuSolo Fertilizers Inc.
Eran Friedlander, President
For more information contact:
Senior Manager, Corporate Development
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: DuSolo Fertilizers Inc.