Itafos Announces Intent to Borrow Convertible Unsecured Subordinated Debt in the Amount of US$15,000,000

Sep 11, 2019

TORONTO, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Itafos (TSX VENTURE: IFOS) (the “Company”) announced today that it intends to borrow US$15,000,000 from CL Fertilizers Holding LLC (“CLF”) in the form of convertible unsecured subordinated debt, subject to approval from the TSX Venture Exchange. The debt would be evidenced by an unsecured and subordinated promissory note issued by the Company in favor of CLF in the principal amount of US$15,000,000 (the “CLF Promissory Note”).

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