Pan American Fertilizer Confirms Suspension of Trading by the Toronto Venture Exchange
May 14, 2014 (Source: Accesswire) — Pan American Fertilizer Corp. (TSX.V: PFE, Frankfurt: 6GF) (the “Company” or “Pan American”) confirms that, effective May 08, 2014, the TSX Venture Exchange (“the Exchange”) has suspended trading in the Company as a result of a Cease Trade Order (“CTO”) issued by the British Columbia Securities Commission.
This suspension of trading by the Exchange is a direct result of the Company’s delayed filing of its Year End 2014 financials announced in its April 30, 2014 press release.
Reinstatement to trading can only occur when the CTO is revoked and the Exchange has concluded its reinstatement review to ensure that the Company has satisfactorily complied with Exchange requirements.
The Company anticipates that reinstatement will occur once the Company has completed its 2013 financial filings which are anticipated to be completed before the end of May, 2014.
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.
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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
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>