Itafos appoints Joseph McConnell to board of directors

Itafos Inc. (TSX-V: IFOS) (OTCQX: ITFS) announced the appointment of Joseph McConnell to its board of directors, effective January 16, 2026. McConnell replaces Isaiah Toback as a nominee by the company's principal shareholder, CL Fertilizers Holding LLC, under an investor rights agreement.

McConnell serves as a partner at Castlelake, L.P., an affiliate of CL Fertilizers Holding, where he holds the position of deputy co-chief investment officer. He joined Castlelake in 2007 and oversees the firm's global investment strategy across asset classes and manages its Opportunistic Asset Solutions and Aviation fund portfolios.

Anthony Cina, chairman of Itafos's board of directors, stated that McConnell's experience and expertise will strengthen the board's oversight and guidance capabilities. Cina also thanked Toback for his contributions to the company.

McConnell became a partner at Castlelake in 2017 and previously served in portfolio management and investment roles, including co-head of the firm's Aviation and Real Assets businesses. Before joining Castlelake, he worked in Piper Sandler's investment banking division. He earned a bachelor's degree in finance and accounting from the University of Minnesota's Carlson School of Management.

Itafos operates as a phosphate and specialty fertilizer company with facilities in Idaho, Brazil, and Guinea-Bissau. The company's operations include the Conda facility in Idaho with approximately 550,000 tons per year production capacity, and the Arraias facility in Brazil with approximately 500,000 tons per year capacity for single superphosphate products.

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