Anthony Cina

Director, Chairman

Mr. Cina has over 30 years of experience in accounting, finance and tax-related matters and has extensive experience in the mining industry. Mr. Cina is a corporate director on various boards and has been a director and board advisor to various mining and technology-related public and private companies. Prior to these roles, Mr. Cina served in several senior executive roles with mining companies, most recently as Senior Vice President, Business Administration at Yamana Gold Inc. (“Yamana”). Prior to joining Yamana, Mr. Cina was Chief Financial Officer of Itafos. Mr. Cina is a Chartered Accountant and Chartered Professional Accountant and received the ICD.D designation from the Institute of Corporate Directors. Mr. Cina holds a bachelor of commerce from the University of Toronto.

Ricardo De Armas


Mr. De Armas is a Managing Director at Castlelake, L.P. (“Castlelake”) and is part of the Lending team. Previously, Mr. De Armas was part of Castlelake’s Special Situations team, focused on investments in emerging markets. Prior to joining Castlelake, Mr. De Armas held a senior investment role at an opportunistic family office, where he focused on deep value investments, restructuring and financial advisory. Prior to that, Mr. De Armas was a principal at a private investment firm, where he focused on special situations investments in emerging markets. Earlier in his career, Mr. De Armas was an associate with Citigroup in the Latin America investment banking group, where he advised companies in a wide range of industry sectors on financial and strategic matters. Mr. De Armas holds a bachelor of science in business administration from Universidad Metropolitana and a Master of Business Administration from Harvard Business School.

G. David Delaney

Director, Chief Executive Officer

Mr. Delaney is a senior executive with over 30 years of experience in leadership roles within the fertilizer and agricultural sectors. Mr. Delaney previously served as Chief Commercial Officer at Farmer’s Business Network Inc. Prior to that, Mr. Delaney served as a Strategic Advisor for Paine & Partners, LLC (now Paine Schwartz Partners). Prior to these roles, Mr. Delaney was the Executive Vice President and Chief Operating Officer of Potash Corporation of Saskatchewan Inc. (“PotashCorp”) where he oversaw operations across the company’s business segments, spanning 16 sites. Earlier in his career at PotashCorp, Mr. Delaney served as President of Sales and Marketing where he led the centralization of the global sales function and had oversight of all sales, marketing, market research, transportation and distribution activities. Prior to joining PotashCorp, Mr. Delaney held various sales and product positions at Arcadian Corporation Ltd until it was acquired by PotashCorp in 1997. Mr. Delaney currently serves on the board of the International Fertilizer Association and previously served on numerous boards, including the Arab Potash Company, Brandt, Canpotex, Farmers Business Network, Inc., the Fluid Fertilization Association, the International Plant Nutrition Institute, Orbis Health Solutions, the Phosphate Chemicals Expert Association, Inc. and Willard Agri-Service of Frederick, Inc. Mr. Delaney holds a bachelor of science in agriculture from Southern Illinois University.

Stephen Shapiro


Mr. Shapiro is Chief Financial Officer at Cellview Imaging Inc., an emerging medical device company. Prior to joining Cellview, Mr. Shapiro had a 30 year career in investment banking, most recently leading the Canadian Industrials and Consumer Group for Wells Fargo Securities Canada. Prior to joining Wells Fargo, Mr. Shapiro spent 13 years with BMO Capital Markets, where he started and led the Agriculture and Fertilizer Group. Mr. Shapiro is a Chartered Financial Analyst. Mr. Shapiro holds a bachelor of commerce from McGill University and a Master of Business Administration from the University of Chicago.

Isaiah Toback


Mr. Toback is a partner at Castlelake and is deputy co-chief investment officer. Mr. Toback is responsible for guiding and executing the firm’s global investment strategy across asset classes, overseeing the firm’s value and income fund portfolios and supporting the growth and development of its investment teams. He is also a voting member of the firm’s Investment Review Committee. Mr. Toback became a partner of the firm in 2020 and previously served in portfolio management and investment roles. He has particular experience with investments in dislocated industries and corporate special situations, including leading the firm’s renewables and commodity shipping strategies. Prior to joining Castlelake, Mr. Toback was an investment banker with Goldman Sachs, where he was responsible for transportation structured financings, focusing on the aviation and shipping industries. Mr. Toback holds a bachelor of arts in economics from Vanderbilt University.

Ronald Wilkinson


Mr. Wilkinson retired from Agrium Inc. (“Agrium”) after a career spanning 40 years in the fertilizer industry. Mr. Wilkinson served as Senior Vice President and President of Agrium’s Wholesale Business Unit from 2004 through 2015 where he was responsible for manufacturing operations for 12 production sites, along with the associated supply chain, sales, marketing and distribution. Prior to this role, Mr. Wilkinson held various positions of increasing responsibility with Agrium, Viridian Inc., Sherritt International Corporation, Imperial Oil Ltd. and Exxon Mobil Corporation. Mr. Wilkinson currently serves on the board of Sulvaris Inc. and previously served on numerous boards, including the Canadian Fertilizer Institute, Canpotex, Fertoz Ltd. and Profertil S.A. Mr. Wilkinson holds a bachelor of science in chemical engineering from the University of Alberta.

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