Pan American Fertilizer (CNSX: PAF) Announces LOI for the Sale of up to 50,000 Tonnes of Calcium Sulphate to Paraguay
Video of news release: http://bit.ly/Tq9ao2
VANCOUVER, BRITISH COLUMBIA, October 9th, 2012 – Pan American Fertilizer Corp., (CNSX: PAF) (“Pan American” or the “Company”) is pleased to announce that it has entered into a non-binding letter of intent (the “LOI”) with Agro Industrial Campos Nuevos S.A. (“Agro Industrial”). Under the terms of the LOI, Pan American will sell Agro Industrial between 30,000 and 50,000 tonnes of Calcium Sulphate (Agricultural Gypsum) over a 12 month period at a mutually agreed price per tonne.
“This sales LOI is an extremely important milestone for Pan American. It not only represents our first international sales agreement, but also demonstrates the massive potential international market for our product. The testing that Agro did validates the quality of our product and we expect to establish many more strategic sales arrangements with international partners” reported Randy Wright, President and CEO of Pan American.
“We at Agro Industrial are very pleased with the signing of this LOI with Pan American. We have long been searching for a partner that can provide a high quality product in a professional and timely manner. We feel we have found that partner in Pan American” reported Nivaldo Ouriques, President of Argo Industrial.
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”) currently in Argentina. To ensure long term development and increase shareholder value, Pan American currently 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 neighbouring countries with Argentina.
When used as a fertilizer and as a soil remediator, calcium sulphate is a soft sulfate mineral composed of calcium sulfate dihydrate 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. www.PAFertilzer.com