Pan American Fertilizer (CNSX: PAF) Chairman Letter to Shareholders
VANCOUVER, BRITISH COLUMBIA, November 22nd, 2012 - Pan American Fertilizer Corp., (CNSX: PAF) (“Pan American” or the “Company”) reports releases the following letter to its shareholders from its Chairman, Randy Wright.
Pan American recently announced the termination of our previously announced merger with Pacific Potash. Unfavorable market conditions were the key factor in the board’s decision to not move forward with the merger. The Company remains ideally positioned to take advantage of our rapidly increasing extraction rate at our Santiago Del Estero, Argentina site, as well as the steady increase in both local and international demand for our high quality product.
Our strategy remains based on the simple principal of supplying the highest quality product available to a continually growing robust market. As we move forward and meet both our extraction and sales milestones, our revenue stream will allow us to also pursue value added transactions with local Argentinean and international partners while avoiding significant share dilution. We will continue to remain open to new opportunities that will leverage our proven asset and position us to meet our long term vision of becoming a major global fertilizer supplier.
Your Board of Directors and management team remain dedicated to increasing shareholder value, and we continue to be motivated by the prospects of the Company. I would like to personally thank each of you, and will work to ensure your trust is maintained as Pan American grows.
Chairman, President and CEO