Verde AgriTech Ltd (TSX: “NPK”)
("
Verde” or the “
Company”) is
pleased to announce that Hannah Oh and Marcelo Duarte (the
“
Directors”) have been recommended for appointment
to the Company’s Board of Directors (the “
Board”)
at the upcoming Annual General and Special Meeting (the
“
Meeting”), pending shareholder approval. Mr.
Duarte's is a Brazilian that resides in Singapore, where he leads
the Asia-Brazil Agro Alliance. Therefore, Mr. Duarte's appointment
as an Independent Director of the Company is contingent upon his
obtaining approval from the Singapore Ministry of Manpower
(“
MOM”).
"We are delighted to welcome Ms. Hannah Oh to
Verde's Board of Directors. Ms. Oh has a remarkable history in
sales and marketing at Bayer, a global leader in agriculture and
pharmaceuticals. Over the span of 15 years, she led the strategy,
marketing and operations teams globally covering digital farming
systems, seeds and traits, crop protection, corporate
sustainability and biological divisions. She held roles as
Marketing Excellence Lead for Asia and US Biological divisions, as
well as global roles to lead Sales & Operations processes,
where she oversaw the launch of several agricultural products and
technologies, experience that will be vital for establishing the
market for Verde’s specialty fertilizers. Her achievements in
connecting ag/food and climate tech start-ups as an impact investor
and advisor align perfectly with our business strategies. Now
currently as the co-founder of IXO, her expertise in AI-driven
measurement, reporting, and verification methodologies and
blockchain management for carbon credits will be invaluable for
guiding and supporting the development of Verde’s carbon project,”
declared Cristiano Veloso, Verde’s Founder,
President & CEO.
"We are also thrilled to welcome Mr. Marcelo
Duarte to Verde's Board of Directors. Based in Singapore, Mr.
Duarte is one of the foremost authorities on Brazilian agribusiness
in the whole of Asia. His extensive experience in institutional
relations as the Secretary of State for Infrastructure in Mato
Grosso, Brazil's most significant agricultural state, and the
Executive Director of the Brazilian Soybean Producers Association
both add a critical dimension to our Board. Currently, Mr. Duarte
leads the Brazilian Cotton Growers Association as they navigate the
upcoming EU regulations, effective from 2025, which will require
all clothing sold to disclose its carbon footprint, a major
development for the sector that involves making many strategic
decisions. Marcelo's deep expertise in both the public and private
sectors, coupled with his strategic vision in Brazilian and
international agribusiness, will be invaluable as we continue to
advance Verde’s business strategy," completed Mr. Veloso.
With over 15 years of hands-on experience in
commercial and sustainability leadership roles within Bayer across
Asia, Europe, and the USA, Hannah Oh has been recognized as a
driving force for positive change and organizational
transformations. Ms. Oh has a strong track record through
commercial roles such as Head of Marketing Excellence in Asia at
Bayer Crop Science and US biological division, Global Sales &
Operations Lead, and as Head of International Engagements for
Water, where she developed global partnerships for water
conservation and global climate crises.
As impact investor and technical advisor, Ms. Oh
is deeply committed to fostering connections between ag/food and
climate tech start-ups, philanthropic foundations, and impact
capital, serving as a catalyst for impactful ventures and offering
strategic guidance as an advisor.
Currently, Ms. Oh is the co-founder of IXO,
pioneers in digital technologies to bring transparency, integrity
through high-definition impacts data, and outcome-focused impact
investment strategies. Through IXO's real-time digital Measurement,
Reporting, and Verification capabilities, leveraging its own
blockchain and casual AI models, companies and projects in green
transition can benefit from high-quality impact credits, i.e.,
carbon credits; and also to value social impact outcomes in
education, health, and gender equity. Ms. Oh and the team are on a
mission to count what matters and value what counts.
Ms. Oh also contributes as a board member,
speaker and author. Her dedication to uplifting rural communities
has been recognized, earning her a place among Singapore's top 30
Women of Power in 2023.
Ms. Oh holds a BA in Economics and Asian Studies
from Macalester College and has studied sustainability at the
University of Cambridge’s Institute for Sustainability. Ms. Oh is a
Certified Health Coach on Foods, Nutrition, and Wellness Studies,
from the Institute for Integrative Nutrition.
“I am delighted to join Verde’s Board of
Directors. With my background in agricultural market development,
sustainability, and impact investing, I am ready to support the
Company’s innovative approach to sustainable farming and
decarbonization of the Brazilian agribusiness. My work with IXO has
shown me the transformative power of high-quality impact credits
and digital transparency, and I look forward to leveraging this
experience to advance Verde's carbon projects and sales
initiatives,” commented Ms. Oh.
Mr. Duarte serves as the CEO of Asia-Brazil Agro
Alliance and holds the position of Director of International
Relations at the Brazilian Cotton Growers Association (Abrapa). He
earned his Master's degree in Agricultural Commerce from Lincoln
University in New Zealand, an MBA from FGV (Brazil), and a
Bachelor's degree in Business Administration from UFMT (Brazil).
His extensive educational background is further enhanced by courses
at Harvard and a visiting scholar tenure at the University of
Illinois Urbana-Champaign.
Since relocating to Singapore in 2020, Mr.
Duarte has been at the helm of the Cotton Brazil Program, a
significant initiative under his leadership aimed at enhancing
Brazil's cotton exports through strategic market development
initiatives in the top ten cotton importing countries.
In addition to his roles in the private sector,
Mr. Duarte has also held significant public sector positions,
including Secretary of State for Infrastructure, President of the
State Infrastructure Fund, and President of the Public-Private
Partnership company (MT Par) in Mato Grosso state, Brazil.
Mr. Duarte is actively engaged in both the
Brazilian and international agribusiness communities, contributing
as a board member, advisor, entrepreneur,
and angel investor.
"I am eager to contribute to Verde’s strategic
growth, leveraging my experience in agricultural commerce and
international relations. The Brazilian agribusiness sector has been
facing many challenges recently, and it is increasingly clear to
farmers the importance of using quality products to enhance crop
resilience and of fighting against climate change. I am honored to
be nominated to Verde’s Board of Directors and help drive the
Company’s mission forward," commented Mr. Duarte.
Annual General and Special
Meeting
The appointment of Hannah Oh and Marcelo Duarte
will be voted by shareholders at the 2024 Annual General and
Special Meeting. The Meeting will be held on June 27, Thursday, at
7:00 a.m. (BRT) / 6:00 p.m. (SGT), at 300 Prof. Antônio Aleixo,
Lourdes, Belo Horizonte, Minas Gerais, Brazil, 30180-150.
Shareholders are invited to observe the Meeting
by joining the Zoom webinar, details of which will be provided on
registration at the following link:
https://bit.ly/2024_Annual-General-Meeting. Participants will be
able to listen to the proceedings at the Meeting through this
method regardless of their geographic location.
The questions must be submitted in advance
through the following link before the Meeting:
https://bit.ly/2024-AnnualGeneralMeeting-Questions.
About Verde AgriTech
Verde AgriTech is a climate-smart agriculture
technology company. We are dedicated to driving sustainable and
regenerative agriculture in Brazil through the production of
specialty multi-nutrient potassium fertilizers, essential in
promoting decarbonization in the agricultural sector. Our mission
is to increase agricultural productivity, enhance soil health and
significantly contribute to environmental sustainability. With our
proprietary technologies, we develop solutions that meet farmers'
immediate needs for crop nutrition while simultaneously addressing
global challenges such as food security and climate
change.
For more information on how we are leading the
way towards sustainable agriculture and climate change mitigation
in Brazil, visit our website at https://verde.ag/en/home/.
Corporate Presentation
For further information on the Company, please
view shareholders’ deck:
https://verde.docsend.com/view/cb2w3cnd2jk4sw49
Company Updates
Verde invites you to subscribe for updates. By
signing up, you'll receive the latest news about the Company's
projects, achievements, and future plans.
Subscribe at the following link:
http://cloud.marketing.verde.ag/InvestorsSubscription
Cautionary Language and Forward-Looking
Statements
All Mineral Reserve and Mineral Resources
estimates reported by the Company were estimated in accordance with
the Canadian National Instrument 43-101 and the Canadian Institute
of Mining, Metallurgy, and Petroleum Definition Standards (May 10,
2014). These standards differ significantly from the requirements
of the U.S. Securities and Exchange Commission. Mineral Resources
which are not Mineral Reserves do not have demonstrated economic
viability.
This document contains "forward-looking
information" within the meaning of Canadian securities legislation
and "forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995. This
information and these statements, referred to herein as
"forward-looking statements" are made as of the date of this
document. Forward-looking statements relate to future events or
future performance and reflect current estimates, predictions,
expectations or beliefs regarding future events and include, but
are not limited to, statements with respect to:
- the estimated amount and grade of Mineral Resources and Mineral
Reserves;
- the estimated amount of CO2 removal per tonne of rock;
- the PFS representing a viable development option for the
Project;
- estimates of the capital costs of constructing mine facilities
and bringing a mine into production, of sustaining capital and the
duration of financing payback periods;
- the estimated amount of future production, both produced and
sold;
- timing of disclosure for the PFS and recommendations from the
Special Committee;
- the Company’s competitive position in Brazil and demand for
potash; and,
- estimates of operating costs and total costs, net cash flow,
net present value and economic returns from an operating mine.
Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives or future events or performance
(often, but not always, using words or phrases such as "expects",
"anticipates", "plans", "projects", "estimates", "envisages",
"assumes", "intends", "strategy", "goals", "objectives" or
variations thereof or stating that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur
or be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be
forward-looking statements.
All forward-looking statements are based on
Verde's or its consultants' current beliefs as well as various
assumptions made by them and information currently available to
them. The most significant assumptions are set forth above, but
generally these assumptions include, but are not limited to:
- the presence of and continuity of resources and reserves at the
Project at estimated grades;
- the estimation of CO2 removal based on the chemical and
mineralogical composition of assumed resources and reserves;
- the geotechnical and metallurgical characteristics of rock
conforming to sampled results; including the quantities of water
and the quality of the water that must be diverted or treated
during mining operations;
- the capacities and durability of various machinery and
equipment;
- the availability of personnel, machinery and equipment at
estimated prices and within the estimated delivery times;
- currency exchange rates;
- Super Greensand® and K Forte® sales prices, market size and
exchange rate assumed;
- appropriate discount rates applied to the cash flows in the
economic analysis;
- tax rates and royalty rates applicable to the proposed mining
operation;
- the availability of acceptable financing under assumed
structure and costs;
- anticipated mining losses and dilution;
- reasonable contingency requirements;
- success in realizing proposed operations;
- receipt of permits and other regulatory approvals on acceptable
terms; and
- the fulfilment of environmental assessment commitments and
arrangements with local communities.
Although management considers these assumptions
to be reasonable based on information currently available to it,
they may prove to be incorrect. Many forward-looking statements are
made assuming the correctness of other forward looking statements,
such as statements of net present value and internal rates of
return, which are based on most of the other forward-looking
statements and assumptions herein. The cost information is also
prepared using current values, but the time for incurring the costs
will be in the future and it is assumed costs will remain stable
over the relevant period.
By their very nature, forward-looking statements
involve inherent risks and uncertainties, both general and
specific, and risks exist that estimates, forecasts, projections
and other forward-looking statements will not be achieved or that
assumptions do not reflect future experience. We caution readers
not to place undue reliance on these forward-looking statements as
a number of important factors could cause the actual outcomes to
differ materially from the beliefs, plans, objectives,
expectations, anticipations, estimates assumptions and intentions
expressed in such forward-looking statements. These risk factors
may be generally stated as the risk that the assumptions and
estimates expressed above do not occur as forecast, but
specifically include, without limitation: risks relating to
variations in the mineral content within the material identified as
Mineral Resources and Mineral Reserves from that predicted;
variations in rates of recovery and extraction; the geotechnical
characteristics of the rock mined or through which infrastructure
is built differing from that predicted, the quantity of water that
will need to be diverted or treated during mining operations being
different from what is expected to be encountered during mining
operations or post closure, or the rate of flow of the water being
different; developments in world metals markets; risks relating to
fluctuations in the Brazilian Real relative to the Canadian dollar;
increases in the estimated capital and operating costs or
unanticipated costs; difficulties attracting the necessary work
force; increases in financing costs or adverse changes to the terms
of available financing, if any; tax rates or royalties being
greater than assumed; changes in development or mining plans due to
changes in logistical, technical or other factors; changes in
project parameters as plans continue to be refined; risks relating
to receipt of regulatory approvals; delays in stakeholder
negotiations; changes in regulations applying to the development,
operation, and closure of mining operations from what currently
exists; the effects of competition in the markets in which Verde
operates; operational and infrastructure risks and the additional
risks described in Verde's Annual Information Form filed with SEDAR
in Canada (available at www.sedar.com) for the year ended December
31, 2021. Verde cautions that the foregoing list of factors that
may affect future results is not exhaustive.
When relying on our forward-looking statements
to make decisions with respect to Verde, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events. Verde does not undertake to
update any forward-looking statement, whether written or oral, that
may be made from time to time by Verde or on our behalf, except as
required by law.
For additional information please contact:
Cristiano Veloso, Chief Executive Officer and Founder
Tel: +55 (31) 3245 0205; Email: investor@verde.ag
www.verde.ag | www.investor.verde.ag
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