Brazil Potash Pronounces Closing of Preliminary Public Providing

Article content material

MANAUS, Brazil, Nov. 29, 2024 (GLOBE NEWSWIRE) — Brazil Potash Corp. (“Brazil Potash” or the “Firm”) introduced at this time the closing of its preliminary public providing (the “IPO”) of two,000,000 of its widespread shares, no par worth per share (“Widespread Shares”), at a worth to the general public of US$15.00 per share. The gross proceeds to the Firm from the IPO, earlier than deducting underwriting reductions and commissions and estimated providing bills payable by the Firm, have been US$30.0 million. As well as, the Firm has granted the underwriters an choice to buy as much as a further 300,000 Widespread Shares, for a interval of 30 days from the date of the ultimate prospectus, to cowl over-allotments, if any.

Article content material

Article content material

Article content material

The Widespread Shares commenced buying and selling on the NYSE American on November 27, 2024 below the image “GRO”.

Brazil Potash intends to make use of the web proceeds of the providing primarily to fund its pre-operation growth bills, to pay its present liabilities, and for working capital and normal company functions, which is able to embody, amongst others, bills referring to (i) acquiring and complying with its environmental licenses, (ii) engineering, procurement and building for vital path gadgets, and (iii) different pre-development issues, corresponding to acquiring the environmental license, the mining concession, and different remaining required authorizations, permits and licenses for the Autazes Venture, buying the remaining land for sure undertaking websites, primarily consisting of the websites for use for the dry stacked tailings piles, and sustaining its mineral rights.

Cantor Fitzgerald & Co., Banco Bradesco BBI S.A., Roth Capital Companions, LLC, Clarksons Securities, Inc. and Freedom Capital Markets acted as underwriters within the IPO.

A registration assertion on Kind F-1 referring to the providing of the Widespread Shares within the IPO was filed with the U.S. Securities and Alternate Fee (the “SEC”) and was declared efficient on November 26, 2024. The providing of Widespread Shares was made solely via a prospectus, copies of which can be obtained by contacting Cantor Fitzgerald & Co., Consideration: Capital Markets, 110 East 59th Avenue, sixth Flooring, New York, New York 10022, or by e mail at prospectus@cantor.com; or Bradesco Securities Inc., Consideration: Isabella Behar, 450 Park Avenue, thirty second Flooring, New York, New York 10022, or by e mail at bbi.ecm@bradescobbi.com.br. Copies of the Firm’s registration assertion may be accessed via the SEC’s web site at www.sec.gov.

Article content material

Article content material

The Firm has additionally obtained a receipt for a (last) base PREP prospectus filed with securities commissions or related authorities in every of the provinces and territories of Canada, apart from Québec, on November 26, 2024. A duplicate of the supplemented PREP prospectus containing pricing info and different essential info referring to the Widespread Shares could also be obtained by contacting Cantor Fitzgerald Canada Company, Consideration: Fairness Capital Markets, 181 College Avenue, Suite 1500, Toronto, Ontario, Canada M5H 3M7, or by e mail at ecmcanada@cantor.com, and might be out there below the Firm’s SEDAR+ profile at www.sedarplus.ca.

This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase any securities of the Firm, nor shall there be any sale of any securities of the Firm in any state, province, territory, or jurisdiction during which such supply, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such state, province, territory, or jurisdiction. No securities regulatory authority has both permitted or disapproved of the contents of this press launch.

Article content material

Advisors

Greenberg Traurig, P.A., acted as counsel for Brazil Potash in the USA and Wildeboer Dellelce LLP acted as counsel for Brazil Potash in Canada. Sidley Austin LLP acted as counsel for the Underwriters in the USA and Bennett Jones LLP acted as counsel for the Underwriters in Canada.

About Brazil Potash

Brazil Potash is an exploration and growth firm with a potash mining undertaking (the “Autazes Venture”) positioned within the state of Amazonas, Brazil. The Firm’s technical operations are based mostly in Autazes, Amazonas, Brazil and Belo Horizonte, Minas Gerais, Brazil, and its company workplace is in Toronto, Ontario, Canada. The Firm is within the pre- income growth stage and has not but commenced any mining operations. The Firm’s plan of operations for the following few years consists of securing all required environmental licenses for the Autazes Venture, and, topic to securing ample funds, commencing all phases of the development of the Autazes Venture.

Cautionary Be aware Concerning Ahead-Wanting Statements

This press launch consists of forward-looking statements, that are statements that aren’t historic information. Phrases corresponding to “expects”, “anticipates” and “intends” or related expressions are meant to establish forward-looking statements. Such forward-looking statements, together with statements referring to the usage of proceeds from the IPO and the underwriters’ over-allotment possibility, are topic to dangers and uncertainties, lots of that are past the management of the Firm, together with these described within the “Danger Elements” part of the Firm’s registration assertion on Kind F-1, as amended, for the IPO filed with the SEC and the supplemented PREP prospectus filed in every of the provinces and territories of Canada, apart from Québec. Readers are cautioned to not place undue reliance on any of those forward-looking statements. These forward- trying statements communicate solely as of the date hereof. The Firm expressly disclaims any obligations or endeavor to launch publicly any updates or revisions to any forward-looking statements contained herein to replicate any change within the Firm’s expectations with respect thereto or any change in occasions, situations or circumstances on which any assertion relies, except required by regulation.

For extra info, please contact:

Brazil Potash Investor Relations
information@brazilpotash.com

Article content material