AMAZONAS, BRAZIL, June 13, 2024 – Brazil Potash Corp. (“Brazil Potash” or the “Company”) is pleased to provide the voting results from the Annual and Special Meeting of Shareholders. The Company is excited to announce the nominees listed in the Notice of Meeting dated May 29, 2024 were elected as directors of the Company. Included in the group of nominees are three new directors, being Brett Lynch, Deborah Battiston and Peter Tagliamonte. The new directors will provide further expertise and relationships as we finalize permits and secure funding for project construction. David Gower, former President of the Company along with Carmel Daniele and Andrew Puller did not seek reelection to the Board of Directors. The Company thanks Mr. Gower, Ms. Daniele and Mr. Puller for valuable contributions, commitment, sound knowledge and experience to help bring Brazil Potash to its current near construction ready state.
With these changes, the Board is comprised of six directors being Chairman Stan Bharti, CEO Matt Simpson, the Honorable Pierre Pettigrew, Brett Lynch, Deborah Battiston and Peter Tagliamonte, four of which are independent, and all with extensive natural resource sector experience.
The following is some background on the vast experience brought by the newly elected directors.
Brett Lynch
Mr. Lynch is a highly experienced international company director and chief executive, with a strong background in mining and mining-related businesses across Australia, Asia, and North America and a proven track record in advancing shareholder value. As a senior mining engineer and manager, Mr. Lynch has more than 30 years’ experience in the global industry, including previous posts with leading resources companies such as MIM Holdings, New Hope Corporation, Orica, VLI, and Sayona Mining Ltd., during which time he was responsible for multi-million dollar international operations. Mr. Lynch’s professional qualifications include a Bachelor of Engineering (Mining) from the University of Melbourne, a Graduate Diploma of Business (Accounting) at Monash University, and a Company Director Diploma from the Australian Institute of Company Directors.
Deborah Battiston
Deborah Battiston has over 35 years of experience in the mineral resource mining and production sector, having served as a director and chief financial officer of a number of Canadian public mineral resource companies, including Allana Potash Corp. As the chief financial officer of Allana Potash Corp., she was involved in multiple equity raises for Allana, acquisitions by Allana of significant mining assets, and the subsequent sale of Allana to Israeli Chemical Ltd., largest major potash producer worldwide. Ms. Battiston holds a BA in Economics, is a Chartered Professional Accountant (CPA) and holds an “Institute of Corporate Director-Director” (ICD.D) designation.
Peter Wilson Tagliamonte
Mr. Tagliamonte is a highly accomplished mining engineer with an extensive career spanning 35 years, marked by significant achievements in the development of large international mining projects. His expertise encompasses specialized knowledge in underground mine development and shaft sinking, with more than 20 years focused in Brazil as he is fluent in Portuguese. Mr. Tagliamonte has a proven background in managing complex regulatory environments and overseeing operational challenges. In 2005, Mr. Tagliamonte was honoured as "Mine Manager of the Year" by the Mining Journal, a prestigious accolade that highlights his leadership, expertise, and significant contributions to the mining industry. Mr. Tagliamonte educational qualifications include a mining engineering degree and an MBA both from the University of Western Ontario.
Matt Simpson, CEO of Brazil Potash commented “Brett, Deb and Peter will make great additions to our board given their years of experience in raising funds for project construction and/or permitting natural resource projects. These directors also bring important relationships across multiple relevant sectors that could be instrumental in unlocking further value for Brazil Potash stakeholders.”
Detailed results of the vote for the election of directors held at the Meeting on June 12, 2024 in Toronto, Ontario are set out below.
Election of Directors
The shareholders approved the election as directors of the persons listed below, based on the following vote.
Shareholders voted 99.989% in favour of the approval of the appointment of the Company’s auditors, with 0.011% of shareholders withholding their vote on the appointment of auditors.
Shareholders at the Meeting also approved the repeal and adoption of by-laws of the Company, with 99.975% in favour and 0.025% against.
Shareholders at the Meeting also approved the adoption of the 2024 incentive compensation plan, with 99.942% in favour and 0.058% against.
Finally, shareholders at the Meeting approved the ratification of past acts, with 99.964% voting in favour and 0.036% voting against.
A total of 100,704,722 common shares of the Company were voted in connection at the Meeting, representing approximately 70.33% of the issued and outstanding common shares of the Brazil Potash.
Brazil Potash’s Board would like to express its gratitude to its shareholders for their high levels of participation and support.
About Brazil Potash
Brazil Potash has advanced its large-scale development stage potash project to a near construction ready state. Brazil is one of the world’s largest and fastest growing consumers of potash but imports 98% of its needs at high cost. As a result, over 1.3 million tonnes of Greenhouse Gas emissions are unnecessarily generated from maritime transportation and potash production in jurisdictions with higher emission factors. Brazil Potash’s sylvanite ore body is in Brazil beside a major river, which management anticipates will enable the company to extract, process and deliver potash for the same cost that importers pay for transportation alone. The company has completed a feasibility study, EISA and has obtained a majority of the permits required for project construction.
Press office:
Brazil Potash Investor Relations
info@brazilpotash.com
Cautionary Note Regarding Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release constitute “forward-looking statements” and are based on the reasonable expectations, estimates and projections of the Company as of the date of this letter. The words “plans,” “expects,” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “does not anticipate,” or “believes,” or variations of such words and phrases or statements that certain actions, events or results “may,” “could,” “would,” “might,” or “will be taken,” “occur” or “be achieved” and similar expressions identify forward-looking statements. Forward-looking statements include, without limitation, statements regarding the appointment of new directors, the departure of directors, shareholder meeting voting results, the status of the Company’s project, government regulation and environmental regulation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company disclaims any intention or obligation to update or revise any forward-looking statements, except to the extent required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.
