Mr. Antenor Silva reports

MBAC ANNOUNCES INCREASE IN PREVIOUSLY ANNOUNCED FINANCING TO $17.6 MILLION

MBAC Fertilizer Corp. has amended the terms of the previously announced bought-deal public offering with a syndicate of underwriters led by Canaccord Genuity Corp., and including BMO Capital Markets, National Bank Financial Inc., GMP Securities LP, Paradigm Capital Inc. and Raymond James Ltd., to increase the size of the offering by an additional 740,000 common shares. Under the amended terms of the offering, the underwriters have agreed to purchase 6.5 million common shares for total gross proceeds of $17.55-million.

In addition, the underwriters and the company agreed to amend the terms of the overallotment option to allow the underwriters to purchase up to 975,000 common shares at the offer price and on the same terms as the offering, exercisable at any time, in whole or in part, for a period of 30 days after and including closing date of the offering. If the amended overallotment option is exercised in full, an additional $2,632,500 will be raised pursuant to the offering, for total gross proceeds of $20,182,500.

The net proceeds of the offering are intended to be used by the company to advance the Santana and Araxa projects in Brazil, and for general working capital purposes.

The offering is subject to the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange and applicable securities regulatory authorities.

We seek Safe Harbor.