SOURCE: Verde AgriTech

Verde AgriTech

February 09, 2017 14:41 ET

Environmental License Granted: Verde AgriTech en route to production

TORONTO, ON--(Marketwired - February 09, 2017) - Verde AgriTech (TSX: NPK) ("Verde" or the "Company") is pleased to announce it has been granted an environmental license.

The Company's targeted production for the first half of 2017 is 19,500 tonnes of Super Greensand (see February 29, 2016 press release) and 500 tonnes of Alpha (see April 20, 2016 press release).

The Company's next steps to start production are:

  • Securing a mining permit from the Brazilian Department of Mineral Production;
  • Concluding an agreement with mining contractor;
  • Signing an agreement with industrialization contractors for the production of Super Greensand and Alpha.

The Company's next steps for domestic and international sales are:

  • Signing sale contracts with agriculture corporations and distributors;
  • Shipping product for sales in the United States through Amazon.com;
  • Registering Super Greensand and Alpha as fertilizers with Brazil's Ministry of Agriculture and the State of California, United States.

Execution of all steps are already underway in advanced stages.

"With this long awaited environmental license, Verde leaps towards production. Years of agricultural research and tests will soon enable the swift deployment and market adoption of our multinutrient products," commented President & CEO, Cristiano Veloso.

United States Organic Materials Review Institute ("OMRI") approves Super Greensand

Verde's Super Greensand has been approved for use in organic agriculture in the United States by OMRI. According to the United States Organic Trade Association, sales of organic products totaled US$43.3 billion in 2015.

Mr. Paulo Sergio Ribeiro Machado joins Verde AgriTech's Board of Directors

Verde is pleased to welcome Mr. Paulo Sergio Ribeiro Machado to the Company's Board of Directors.

Mr. Machado is a former executive at Vale and has spent his career developing and operating large mining projects. From 1988 to 2002, Mr. Machado was the General Manager of Vale's Igarapé Bahia Gold Mine, at the time the largest gold producer in Latin America, where he was responsible for implementation, operation and decommissioning. Between 2002 and 2006 Mr. Machado was the Director for all iron ore mines in the central region of Minas Gerais state, overseeing management and operations of mining activities, plants and railway terminals. Mr. Machado holds degrees in Mining Engineering and Geology from the Federal University of Minas Gerais (UFMG) and was a member of the Board of Directors of CEMIG, one of the largest and most important electric energy utilities in Brazil

Mr. Machado will take the Board seat of Mr. Antônio Schettino, who has served as Director since 2013 and now leaves the Board due to personal reasons. The Company wishes to thank Mr. Schettino for his invaluable contribution during these past years.

About Verde AgriTech

Verde AgriTech promotes sustainable and profitable agriculture through the development of its Cerrado Verde Project. Cerrado Verde, located in the heart of Brazil's largest agricultural market, is the source of a potassium-rich deposit from which the Company intends to produce solutions for crop nutrition, crop protection, soil improvement and increased sustainability.

Cautionary Language and Forward Looking Statements

Neither the TSX nor its regulation services provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. This press release contains certain "forward looking statements", which include but is not limited to, statements with respect to the future financial or operating performance of the company, its subsidiaries and its projects, and statements regarding use of proceeds. Forward looking statements can generally be identified by the use of words such as "plans", "expects", or "does not expect" or "is expected", "anticipates" or "does not anticipate", or "believes", "intends", "forecasts", "budget", "scheduled", "estimates" or variations of such words or phrases or state that certain actions, event, or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved". Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by said statements. There can be no assurances that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in said statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information