MBAC announces voting results for its 2014 annual general meeting

TSX:MBC
OTCQX:MBCFF
Shares Outstanding:181,607,492
Fully Diluted:230,606,330

TORONTO, May 13, 2014 /CNW/ - MBAC Fertilizer Corp. ("MBAC" or the "Company") (TSX:MBC and OTCQX:MBCFF) today announced the voting results on the election of directors from its 2014 Annual Meeting of Shareholders ("AGM").

A total of 97,113,011 shares representing 63.8% of the issued and outstanding shares were voted at the AGM. The voting results on the election of directors are as follows:

Name

Votes in Favour

%

Votes Withheld

%

Peter Marrone

94,920,023

99.96%

37,752

0.04%

Antenor Silva

94,918,223

99.96%

39,552

0.04%

Leonardo Marques da Silva

84,088,123

88.55%

10,869,652

11.45%

Alexander Davidson

84,050,623

88.51%

10,907,152

11.49%

Denis C. Arsenault

84,054,823

88.52%

10,902,952

11.48%

David R. Peterson

82,751,898

87.15%

12,205,877

12.85%

David Nierenberg

84,055,623

88.52%

10,902,152

11.48%

Cristiano Melcher

94,885,523

99.92%

72,252

0.08%

Shareholders also voted in favour of the reappointment of Pricewaterhousecoppers LLP as the auditors of the Corporation until the close of the next annual meeting of shareholders.

At the meeting, the Company provided a corporate update to shareholders, details of which can be found at the Company's website www.mbacfert.com.

About MBAC

MBAC is focused on becoming a significant integrated producer of phosphate fertilizers and related products in the Brazilian and Latin American markets. MBAC has an experienced team with significant experience in the business of fertilizer operations, management, marketing and finance within Brazil. MBAC owns and operates the Itafós Arraias SSP Operations which consists of an integrated fertilizer producing facility comprised of a phosphate mine, a mill, a beneficiation plant, a sulphuric acid plant, an SSP plant and a granulation plant and related infrastructure located in central Brazil ("Itafós Operations"). The Itafós Operations are estimated to have production capacity of approximately 500,000 tonnes of SSP per annum. MBAC's exploration portfolio includes a number of additional exciting projects, which are also located in Brazil. The Santana Phosphate Project is a high grade phosphate deposit located in close proximity to the largest fertilizer market of Mato Grosso State and animal feed market of Pará State. The Company continues to search for additional fertilizer opportunities in the Brazilian and other Latin-American markets, where strong agricultural fundamentals and unique opportunities are expected to provide attractive growth opportunities in the near future. Further information on MBAC can be found on the Company's website at www.mbacfert.com and on SEDAR at www.sedar.com.

FORWARD LOOKING STATEMENTS

This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements related to activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, statements related to the Company's business strategy, objectives and goals; the expectation of Itafós Operations becoming a significant integrated producer of phosphate fertilizers and related products in the Brazilian and Latin American markets and the expectation that Itafós will have a production capacity of approximately 500,000 tonnes of SSP per annum . Forward-looking statements are often identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statements are made, and forward-looking statements involve known and unknown risks, uncertainties and other factors may cause the actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Such risk factors include, among others, the Company not being successful at becoming a significant integrated producer of phosphate fertilizers and related products in the Brazilian and Latin American markets, the risk that Itafós will not be able to produce 500,000 tonnes of SSP per annum , as well as those factors disclosed in the Company's current Annual Information Form and Management's Discussion and Analysis, as well as other public disclosure documents, available on SEDAR at www.sedar.com. Although MBAC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate. The forward-looking statements contained herein are presented for the purposes of assisting investors in understanding the Company's plan, objectives and goals and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements.

SOURCE: MBAC Fertilizer Corp.

For further information: Steve Burleton, Vice President Corporate Development, at 416-367-2200, investor@mbacfert.com or visit our website at: www.mbacfert.com

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www.mbacfert.com

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MBAC Fertilizer Corp.

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