Fengro Industries Corp. Announces Registration of its Natural Fertilizer Products
VANCOUVER, September 27, 2018 - Fengro Industries Corp. (TSX-V:FGR) ("FENGRO" or "the Company") is pleased to announce that the Company has received confirmation of the registration of its Direct Application Natural Fertilizer ("DANF") products from the Ministry of Agriculture, Livestock and Supply ("MAPA"). Giles Baynham, Chief Executive Officer, noted that "the Company is pleased to report the registration of its DANF products - organic phosphate fertilizers. This is a result of the hard work of the team in passing the various requirements of MAPA to become fully registered. This will expand the overall market for our DANF as well as allow the Company to market directly to customers who have traditionally only purchased MAPA registered fertilizers."
MAPA registration greatly expands the potential market for DANF. It also allows the Company to market a MAPA approved product, promote more broadly the benefits of DANF and to sell through additional sales channels without independent verification of DANF's properties. The registration has taken 18 months, working with MAPA and other agencies to demonstrate the qualities and performance of DANF.
About FENGRO
FENGRO produces MAPA Registered phosphate rock from its DANF Santiago Project in Tocantins State, Brazil ("Santiago Project"). Having restructured its business and re-started extraction and sales of its DANF products in 2017, the Company is now positioned to expand its existing operations, add additional products and pursue opportunities for increasing shareholder value in both organic growth and corporate transactions. The Company has assembled a first class management team and board, giving it a significant project development and operational capacity in Brazil.
On behalf of Fengro Industries Corp.
Giles Baynham, Chief Executive Officer and Director
For more information contact:
Email: info@fengro.com
+1 (604) 764 6126
FORWARD LOOKING STATEMENTS
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "aims", "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "target", "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", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fengro which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fengro disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Disclosure - The Company's decision to produce DANF, its DANF production targets and cash flow projections were not based on a feasibility study of mineral reserves demonstrating economic and technical viability. Without a technical report demonstrating economic and technical viability, there is uncertainty as to whether the Company will be able to economically produce DANF in the long run and as to whether the Company will be confronted with any unforeseen technical impediments. The Company has now completed a preliminary economic assessment.
Disclosure - Note that the DANF PEA is preliminary in nature as it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability, and as such there is no certainty that the preliminary assessment and economics will be realized.
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