Pan American Fertilizer (TSX.V: PFE, Frankfurt: 6GF) Acquires Exumer Corporation S.A. in Uruguay
May 1, 2014 (Source: Accesswire) — Pan American Fertilizer Corp. (TSX.V: PFE, Frankfurt: 6GF) (the “Company” or “Pan American”) is pleased to announce that it has acquired 100% of Exumer Corporation S.A. (“Exumer”), as part of the previously announced (See Press Release dated March 14th, 2014) expansion of operations to Uruguay with the intention to grow its market share in the fertilizer industry within South America.
“We are pleased with the addition of Exumer to the Pan American brand.” commented Randy Wright CEO of Pan American. “Exumer is an important piece to expanding our South American operations and growing our South American market share within the fertilizer industry. We look forward to operating in a business friendly and agricultural focused country such as Uruguay, and we believe that this is a significant step forward in expanding our brand.”
Mr. Wright will act as Exumer’s Director and Chief Executive Officer on behalf of Pan American’s interest.
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”) in Argentina. To ensure long term development and increase shareholder value, Pan American 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:
- 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;
- 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;
- It connects to Paraguay and Brazil’s largest fertilizer distribution districts via existing and high quality infrastructure;
- 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
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