Verde Awarded Mining Permit: Production to start in 20 days
TORONTO, ON–(Marketwired – April 27, 2017) – Verde AgriTech (TSX: NPK) (“Verde” or the “Company”) is pleased to announce that it has been awarded a mining permit for 20,000 tons per annum to startup its planned production. The Brazilian Ministry of Mines issued the permit today.
Verde intends to start its mining operations and processing in the next 20 days. Both mining and industrialization will be carried out by contractors that have already been selected.
Commenting, Verde’s founder, Cristiano Veloso, stated, “We apologize for the time it took to get us to this stage and are excited to finally start generating cash flow. Despite the years it required for us to reach production, Verde achieved this milestone with less than 40 million shares outstanding. We thank our investors, our current and former employees, and our partners for all the support and patience”.
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.