SCHEDULE: CD Capital, Carmel Daniele Boost Brazil Potash Stake

CD Capital Asset Management Ltd and Carmel Daniele have reported significant beneficial ownership stakes in Brazil Potash Corp., totaling 24.6% and 26.8% respectively, as of September 30, 2025.

Summary

• CD Capital Asset Management Ltd beneficially owns 10,766,999 common shares of Brazil Potash Corp., representing 24.6% of the class.
• Carmel Daniele beneficially owns 11,757,124 common shares of Brazil Potash Corp., representing 26.8% of the class.
• Ms. Daniele's aggregate ownership includes 10,766,999 common shares held directly by CD Capital Natural Resources BPC LP (CD CNR BPC), for which CD Capital Asset Management Ltd serves as investment advisor, and 990,125 common shares held directly by Ms. Daniele.
• Ms. Daniele, as the founder and Chief Investment Officer of CD CNR BPC, possesses voting and investment power over the common shares beneficially held by CD CNR BPC.
• The filing is a Schedule 13G, indicating that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 7

Explanation: The filing indicates substantial beneficial ownership by a significant institutional investor and its principal, suggesting confidence in the company's prospects, though it provides no operational or financial details.

Positives

• Significant beneficial ownership by CD Capital Asset Management Ltd (24.6%) and Carmel Daniele (26.8%) signals strong institutional and insider conviction in Brazil Potash Corp.'s prospects.
• The filing under Rule 13d-1(c) confirms the acquisition was for investment purposes in the ordinary course of business, not for control, suggesting a long-term investment horizon.

Management Comments

• Ms. Carmel Daniele disclaims beneficial ownership of the Common Shares held by CD CNR BPC, except for any pecuniary interests therein.

Industry Context

This filing indicates significant institutional interest in the potash sector, potentially reflecting long-term demand for agricultural inputs and a positive outlook on the underlying commodity market.

Related Party Transactions

• Carmel Daniele, as the founder and Chief Investment Officer of CD CNR BPC, has voting and investment power over the common shares held by CD CNR BPC, which is advised by CD Capital Asset Management Ltd. Ms. Daniele also holds shares directly.

Stakeholder Impact

• Shareholders: Increased institutional ownership may provide stability and signal confidence in the company's long-term value.
• Management: A large, stable shareholder base from a specialized natural resources investor can influence strategic decisions and provide long-term support.

Key Dates

Recommendation

The Schedule 13G filing reveals substantial beneficial ownership by CD Capital Asset Management Ltd and its principal, Carmel Daniele, in Brazil Potash Corp. This significant stake, totaling 24.6% and 26.8% respectively, suggests strong institutional confidence in the company's long-term prospects. While the filing itself does not provide operational or financial performance data, the commitment from a specialized natural resources investor like CD Capital typically indicates a thorough due diligence process and a belief in the underlying asset's value. For existing investors, this reinforces a 'hold' position, as it signals a vote of confidence from a sophisticated investor. For potential investors, it warrants further investigation into Brazil Potash Corp.'s fundamentals, as this filing alone is insufficient for a 'buy' recommendation without deeper analysis of the company's financials, project development, and market conditions.

Keywords

Brazil Potash, Potash, Mining, CD Capital, Carmel Daniele, Institutional Ownership, SEC Filing, Schedule 13G, Common Stock