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GFRCF Finra deleted symbol:
http://otce.finra.org/DLDeletions
Operational Update
Because of delays in production of agricultural gypsum due to heavy rains in Argentina, the Company’s customers have deferred or significantly reduced their purchases until the next fertilizer application season which is in early 2015. The Company had anticipated that sales revenue for 4Q2014 would allow the Company to be cash flow positive.
In its press release of October 27, 2014, the Company disclosed that it may not have sufficient capital to continue operations until the end of 2014 unless significant revenues could be generated from its Argentina operations. As noted above, these revenues will now be deferred until early 2015 due to the seasonal nature of the fertilizer business.
Accordingly all operations at the Company’s Monto Blanco gypsum site have been temporarily suspended.
Restructuring
The Company has made several strategic, structural and personnel changes under the direct leadership of Dr. Robert Rennie, Executive Chairman of the Board as noted in the Company’s press release of September 10, 2014 and subsequent press releases.
The next phase of the Company’s restructuring, which is operational in Argentina, will be led by Mr. Randy Wright, President & CEO of the Company, allowing Dr. Robert Rennie to return to his traditional role as Executive Chairman of the Board
First, the Company will sell some of its equipment inventory in Argentina in order to lower its operational and overhead costs. Funds will also be used to pay the Company’s debt, employees and creditors.
At the same time, the Company is actively seeking joint venture partners for its operation in Argentina.
Further details on the progress of the restructuring will be given in subsequent Company updates.
Audit Update
While the YE2013 audit is substantially complete, the delay in filing the 2013 Financial Statements and Management’s Discussion and Analysis has resulted in the Company needing to complete the financial statements for the first three quarters of 2014, and the audit of the annual 2014 financial statements. As for the YE2013 audit, the Company is experiencing difficulties in obtaining third party confirmations which is expected to be resolved sometime in the 1Q2015 provided sufficient funds are realized from the sale of some of its assets as noted above.
NEX Stock Exchange
Because of its current operational state, the TSX Venture Exchange (the “TSXV”) has advised the Company that effective the opening of trading on December 17, 2014, the Company’s stock exchange listing will be transferred to the TSXV’s NEX board as a result of the Company having fallen below the TSXV’s ongoing listing standards for Tier 2 issuers. This will allow the Company to continue to have the visibility of the TSXV while it completes its restructuring and refinancing. The Company’s common shares will trade under the symbol “PFE.H”. There will be no change in the Company’s name, no change in its CUSIP number and no consolidation of its capital.
About Pan American Fertilizer Corp.
Pan American is a Canadian company dedicated to providing fertilizer to growing agricultural markets specifically in the Cono Sur of South 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 building its asset base by acquiring additional calcium sulphate properties and other fertilizer related assets and by expanding its markets to countries of the Cono Sur which neighbor Argentina, such as Paraguay, Uruguay, Chile and Brazil.
On behalf of the Board of Directors of Pan American Fertilizer Corp.
Mr. Randy Wright
President & CEO
“On Behalf of the Board of Directors”
http://pafertilizer.com/investor_centre/news_releases/index.php?&content_id=112
I am remaining positive on this play though because they just closed a private placement and they just closed a favorable shares for debt agreement... based upon the private placement lockup, they need to have this up and trading before August.
http://pafertilizer.com/news_media/news_releases/index.php?&content_id=100
$GFRCF is one of my top holdings making up a large % of my portfolio. I believe this company's work in South America and Canada will make it much more valuable a year from now.
GFRCF Share Structure and DD Package
O/S 43.2 million 04/30/2014
http://web.tmxmoney.com/quote.php?qm_symbol=pfe
Business Combination with Golden Fame Resources (2013)
http://pafertilizer.com/investor_centre/news_releases/index.php?&content_id=85
FY 2012 Assets $3.5 million (canada and argentina combined)
FY 2012 sales $110,709 (in argentina, no sales in canada)
http://pafertilizer.com/investor_centre/financials/
http://web.tmxmoney.com/financials.php?qm_symbol=PFE
Pacific Potash Acquisition (2012)
One PR about the company landing fertilizer contracts with grow ops in Uruguay and/or Canada is all it would take to light the fuse imo
I agree. It's definitely a long term play as it is, but there is great potential.
$GFRCF float looks to be less than 10 million shares. This is going to be a beast bro. These prices down here below the PP that just closed are an absolute screaming deal. Easily could move 10x higher soon imo.
It is trading, under PFE on the TSX Venture! Let me know if you found it.
Hey outcast... trading on the grey sheets does not bother me. I can see bid/ask on GFRCF through my broker though. Its probably data coming straight from V.PFE on the TMX. Im in for a few here. Its a gamble, but I really like the Uruguay connection.
Why NO Bid or Ask on My trade Site. ameritrede ? is it trading ?
Does it bother you to buy in Grey market. Looks like a good one just a little weary .
Pan American Fertilizer Closes Private Placement
http://online.wsj.com/article/PR-CO-20140414-905302.html
hello casenumber88... things beginning to look very interesting here.
PAN AMERICAN FERTILIZER Confirms Debt Conversion
http://online.wsj.com/article/PR-CO-20140409-916100.html
Pan American Fertilizer (TSX.V: PFE) Announces Loan Agreement
http://www.abc27.com/story/25134761/pan-american-fertilizer-tsxv-pfe-frankfurt-6gf-announces-loan-agreement
Jumping the Gun on Medical Marijuana
http://www.midasletter.com/2014/04/jumping-gun-medical-marijuana/
Pan American Increase in Private Placement
http://pafertilizer.com/news_media/news_releases/index.php?&content_id=98
May be on to something here, my friend. Doing research tonight and this looks very promising to me; "sweeping" legislation this month!
"Legalising cannabis: Uruguay's president Jose Mujica asks world for support "
http://www.telegraph.co.uk/news/worldnews/southamerica/uruguay/10732869/Legalising-cannabis-Uruguays-president-Jose-Mujica-asks-world-for-support.html
"Pot growers in Uruguay come out of the shadows"
http://www.pri.org/stories/2014-04-02/pot-growers-uruguay-come-out-shadows
On my watch list, for sure.
http://www.pafertilizer.com/
Pan American Fertilizer (TSX.V: PFE, Frankfurt: 6GF) Expands on Strategy for Uruguay and Specialty Fertilizers
specialty fertilizers specifically tailored for various cultivars of medical marijuana
I'm lonely being the only one here... buying all these tasty GFRCF shares just all by my lonesome self... lol
Pan American Fertilizer expands into Uruguay
http://pafertilizer.com/news_media/news_releases/index.php?&content_id=95
GFRCF appoints Mr. Scott Walters as President - April 2013
http://pafertilizer.com/news_media/news_releases/index.php?&content_id=79
Pan American Plans Medical Marijuana Strategy:
http://business.financialpost.com/2014/03/18/pan-american-plans-its-medical-marijuana-strategy/
Pan American Fertilizer Corp. [V.PFE] [OTC.GRCRF]
http://www.pafertilizer.com/
http://web.tmxmoney.com/quote.php?qm_symbol=PFE
http://business.financialpost.com/2014/03/18/pan-american-plans-its-medical-marijuana-strategy/
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