MBAC Fertilizer Corp (TSX:MBC) announced that it is continuing negotiations with an investment fund active in the fertilizer industry (the "Offeror"). The parties have mutually agreed to further extend the letter of intent between the parties, which contains an exclusivity clause and the deadline for entering into definitive binding documentation to January 8, 2016. There is no assurance that the potential transaction will be successfully agreed and concluded.

In addition, the final terms and conditions of the potential transaction will be subject to all necessary approvals including the approval of the boards of directors of MBAC and the Offeror, the shareholders of MBAC as well as applicable regulatory authorities, including the Toronto Stock Exchange. Both MBAC and the Offeror are permitted to terminate the non-binding letter of intent at any time should either party determine not to proceed with a transaction. There can be no assurances that MBAC will pursue or complete a business transaction or sale under its strategic process nor that a business transaction or sale will provide any value to all or any stakeholders.