Mark Smith Joins Genesis Fertilizers as Chief Financial Officer
Saskatoon, Saskatchewan, Oct 27, 2023
Genesis Fertilizers LP is pleased to announce the appointment of Mark Smith, ACMA, as the company’s new Chief Financial Officer (CFO), effective November 1, 2023.
Mark Smith brings a wealth of experience and knowledge in urea nitrogen plant finance to his new role. With over 15 years of experience in Chemical Manufacturing, including key senior management positions at Nutrien as Director of Manufacturing Plant Finance and Director of Financial Planning & Analysis in the Nitrogen division, Mark’s expertise will be a significant asset to Genesis.
In his new role, Mark will oversee contracts valued at over $1.5 billion to be tendered during the Front-End Engineering and Design process (FEED). His background in the Oil and Gas industry will be a key asset in securing short- and long-term gas supply agreements during the operation of the proposed Genesis Fertilizers urea plant.
Mark’s extensive experience in the chemicals industry on both sides of the Atlantic will instill confidence among Genesis shareholders and debtors. His arrival marks a significant step forward for the company, strengthening its leadership team.
Genesis Fertilizers warmly welcomes Mark Smith as the company’s new Chief Financial Officer and anticipates his contributions will help drive the organization’s continued success.
About
Genesis Fertilizers is proposing to finance, design and construct a new, highly efficient urea production and distribution system that serves today’s modern farmer. One central production facility constructed near low-cost raw materials serving a Western Canadian network of strategically located farmer centric SuperCenters. Genesis Fertilizer’s is a privately held limited partnership and its securities do not trade on any exchange. For more information, visit genesisfertilizers.com.
Advisory Regarding Forward-Looking Statements
In the interest of providing the limited partners of Genesis Fertilizers Limited Partnership (“Genesis Fertilizers”) information regarding Genesis Fertilizers, this news release contains certain information and statements (“forward-looking statements”) that constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future results or events, are based upon internal plans, intentions, expectations and beliefs, and are subject to risks and uncertainties that may cause actual results or events to differ materially from those indicated or suggested therein. All statements other than statements of current or historical fact constitute forward-looking statements. Forward-looking statements are typically, but not always, identified by words such as “anticipate”, “estimate”, “expect”, “intend”, “forecast”, “continue”, “contemplate”, “propose”, “may”, “will”, “should”, “believe”, “plan”, “target”, “objective”, “project”, “potential” and similar or other expressions indicating or suggesting future results or events.
Forward-looking statements are not promises of future outcomes. There is no assurance that the results or events indicated or suggested by the forward-looking statements, or the plans, intentions, expectations or beliefs contained therein or upon which they are based, are correct or will in fact occur or be realized (or if they do, what benefits Genesis Fertilizers may derive therefrom). In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to: the construction of the fertilizer plant; securing land for its location; the construction of the distribution facilities and the number thereof, anticipated benefits to the limited partners of Genesis Fertilizers; prospective employment matters relating to the construction and operation of the Tisdale SuperCenter; anticipated competitive advantages and efficiencies of the Tisdale SuperCenter; majority ownership of the proposed fertilizer plant by Canadian farmers; and benefits to Genesis Fertilizers stakeholders. With respect to the forward-looking statements contained in this news release, Genesis Fertilizers has assessed material factors and made assumptions regarding, among other things: the availability of equity capital; the availability of debt financing at acceptable rates; commodity prices and currency exchange rates; the ability to successfully construct the fertilizer plant and the distribution facilities and the availability of materials and service providers therefor; operational matters with respect to the proposed plant and distribution facilities, all of which are currently in the planning stage; the timely receipt of required regulatory approvals; the access, economic, regulatory and physical limitations to which Genesis Fertilizers may be subject from time to time; and the impact of industry competition.
The forward-looking statements contained herein reflect management’s current views, but the assessments and assumptions upon which they are based may prove to be incorrect. Although Genesis Fertilizers believes that its underlying assessments and assumptions are reasonable based on currently available information, undue reliance should not be placed on forward-looking statements, which are inherently uncertain, depend upon the accuracy of such assessments and assumptions, and are subject to known and unknown risks, uncertainties and other factors, both general and specific, many of which are beyond Genesis Fertilizers’ control, that may cause actual results or events to differ materially from those indicated or suggested in the forward-looking statements. As Genesis Fertilizers is currently in the capital raising phase of the project, such risks and uncertainties are numerous and include, but are not limited to, access to the significant amounts of required capital and debt financing for construction and initial operation of the fertilizer plant and distribution facilities; general economic, business and industry conditions; the state of the economy and the agricultural crop input business; business prospects and opportunities; variance of Genesis Fertilizers’ actual capital costs versus projections and estimates, operating costs and economic returns from those anticipated; and risks related to the sourcing of feedstock and the manufacturing of urea fertilizer.
This press release is not a solicitation to invest in Genesis Fertilizers.
