AMAZONAS, Brazil, July 16, 2024 (GLOBE NEWSWIRE) -- Brazil Potash Corp. (“Brazil Potash” or the “Company”) is excited to announce the formation of an advisory board to provide further sector, Brazil country and investor relationship expertise as the Company advances the Autazes potash project (the “Project”) to construction. The advisory board will be Chaired by Mayo Schmidt and includes the following highly notable individuals: Kátia Abreu, Luis Adams, Helio Diniz, Maria Claudia Guimaraes, Cidinho Santos, and William Steers.

The following is some background on the vast experience brought by Brazil Potash’s Advisory Board.

Mayo Schmidt – former Chairman & CEO of Nutrien, former CEO Viterra, and former CEO Hydro One

Mr. Schmidt has led a distinguished career that includes global multi-billion-dollar acquisitions, building high performance teams, transformational leadership and initial public offerings of private companies. In 2022, Mr. Schmidt retired from Nutrien Inc., the largest potash producer globally with ~US$25 billion market capitalization, having served as Chairman of the Board and transitional President & CEO. In 2018, Mr. Schmidt was appointed by Agrium as Chairman of the Merger Committee between Agrium and Potash Corporation leading to the formation of Nutrien Inc.

Mr. Schmidt is also the former President, CEO and Director of Viterra Inc., which he grew from a market capitalization of $54 million to $7.3 billion in less than ten years through a series of 24 acquisitions establishing a presence in 14 countries. Earlier in his career, Mr. Schmidt held a number of key management positions, largely in the agricultural sector working for companies such as General Mills Inc. and ConAgra Inc.

Kátia Abreu – Former Brazil Minister of Agriculture & Senator

Mrs. Abreu is a Brazilian businesswoman, cattle rancher and politician. She was Brazil’s Minister of Agriculture, Livestock and Supply from 2003-2007 and Senator for the state of Tocantins from 2007-2023. In 2018, as part of Ciro Gomes' campaign, she was a candidate for Vice President of Brazil. Mrs. Abreu is the former head of the largest farm lobbying group in Brazil, the National Agriculture and Livestock Confederation, which represents more than one million producers across 27 states.

Luis Adams – Former Brazil Attorney General

Mr. Adams is a Partner in the Litigation, Arbitration and Compliance practice at Tauil Chequer Advogados, associated to Mayer Brown law firm based on Sao Paulo, Brazil. Prior to joining Mayer Brown, Mr. Adams was appointed by Brazil President Lula to be the Attorney General in October 2009 and he remained in this position under subsequent President Dilma until March 2016. As Attorney General, Mr. Adams led major cases in the judiciary including coordination of an environment agreement between the Brazilian Government and Samarco, Vale and BHP. Mr. Adams also has extensive tax experience, having worked as counsel for the Federal Treasury at the Brazil Ministry of Finance for 24 years.

Helio Diniz – Founder of Brazil Potash

Mr. Diniz has 40 years of experience with exploration and mining activities and is one of the founders of Brazil Potash where he served for several years as Managing Director. Mr. Diniz started his career with GENCOR South Africa where he was involved in the evaluation and development of the Sao Bento gold mine in Brazil which operated for 25 years. In 1999 he joined Noranda Mining as country manager Brazil and following the merger of Noranda and Falconbridge Ltd his team discovered the world class Araguaia Nickel Deposit (over 100 million tonnes, 1.5% Ni). He then went on to work for Xstrata (now Glencore) as Managing Director Brazil. He left Xtrata in 2007 and joined Forbes & Manhattan Inc. to set up several companies, such as potash – Brazil Potash, phosphate – Aguia Metais, gold – Belo Sun Mining and oil shale – Irati Petroleo e Energia Ltda. Currently he is the founder, President and Director of Lithium Ionic.

Maria Claudia Guimaraes – Former Executive Officer at Bank of America Merrill Lynch in Brazil

Mrs. Guimaraes has 36 years of experience in the financial markets having served as Managing Director at Bank of America Merrill Lynch and BankBoston. She also held senior management positions at ING Bank N.V. and ABN AMRO Bank, always focusing on the mining & metals, oil & gas and energy sectors. Mrs. Guimaraes is an independent director at Patria Latin American Opportunity Acquisition Corp and previously served as an independent director at multibillion dollar market capitalization company’s such as Petrobras. Mrs. Guimaraes was a partner of the KPC multi-family office, which was sold to Brainvest Wealth Management in 2023. Mrs. Guimaraes is the founder of Baobá Investimentos, who act as a strategic and financial advisor for companies. 

Cidinho Santos – Former Senator for Mato Grosso State (largest farming region in Brazil)

Mr. Santos is a Brazilian investor and businessman focused on the agricultural sector. Mr. Santos represented the state of Mato Grosso in the Federal Senate from 2012 to 2019 and served three terms as Mayor of the Municipality of Nova Marilandia located in Mato Grosso State. He is the co-owner of two successful Brazil-based agricultural companies, Unibras Industria e Comercio de Biodiesel Ltda. and Unioa Avicola Agroindustrial Ltda. Unibras Industria e Comercio de Biodiesel Ltda. is involved in the production of biodiesel whereas Unioa Avicola Agroindustrial Ltda. is a poultry processor.

William Steers – Former Director of Petro Rio S.A. & Docs Investimentos S.A. Brazil

Mr. Steers has over 30 years of experience in capital markets and project development primarily in Brazil. He was a director and senior manager at Docas Investimentos S.A., a Brazilian investment group involved in real estate, ship building, telecommunications, and oil and gas. Additionally, Mr. Steers has served as an independent director at several natural resource companies including Petro Rio S.A., Brazil’s largest independent private oil and gas company.

Brazil Potash’s Executive Chairman Stan Bharti commented, “Brazil Potash has assembled a very impressive advisory board with extensive depth of networks in the fertilizer sector, Brazil’s government and the investment community that will contribute meaningfully to transitioning our construction ready Autazes Project into the next major potash producer. Each advisory board member is a skilled leader with a strong network that will provide good advice and insights to our international board of directors with majority having on-the-ground presence in the heartland of Brazil’s farming community, Mato Grosso.”

Having domestic Brazilian potash production is expected to be game changing for global food security given Brazil is one the world’s largest net exporters of agricultural goods but is exposed as the country imports over 95% of its needs when potentially one of the world’s largest potash basins is sitting in its backyard being developed by Brazil Potash.

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 obtained the majority of the permits required for project construction.

For more information, please contact:
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 press release. 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 Brazil Potash advisory board, the roles and expertise of the advisory board members, 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.