Verde AgriTech Ltd. (TSX: NPK; OTCQX: VNPKF)
("
Verde” or the “
Company”) is
pleased to announce that its common shares begin trading today on
the OTCQX® Best Market (“
OTCQX”) under the ticker
symbol “VNPKF”. OTCQX is the highest market tier of OTC Markets on
which 12,000 U.S. and global securities trade. Verde’s common
shares will continue to trade on the Toronto Stock Exchange under
the symbol “NPK”.
“Today we celebrate one more important milestone
for Verde. By trading on OTCQX Best Market we expect to enhance the
visibility and accessibility of the Company to U.S. investors,
providing a broader platform to build shareholder value alongside
our Toronto Stock Exchange listing," commented Cristiano Veloso,
Verde’s Founder and CEO.
The OTCQX provides value and convenience to U.S.
investors, brokers and institutions seeking to trade Verde’s
shares. OTCQX is OTC Markets Group’s premier market for
established, investor-focused U.S. and international companies.
Upgrading to the OTCQX is an important step for
companies seeking to provide transparent trading for their U.S.
investors. To be eligible, companies must meet high financial
standards, follow best practice corporate governance, demonstrate
compliance with applicable securities laws, be current in their
disclosure, and have a professional third-party sponsor
introduction. B. Riley Securities, Inc.1 acted as the Company’s
OTCQX sponsor.
Verde is in the process of securing Depository
Trust Company (“DTC”) eligibility for its common
shares. DTC manages electronic clearing and settlement of publicly
traded companies across the United States and in 131 other
countries. Trading through DTC allows for cost-effective
clearing and guaranteed settlement, simplifying and accelerating
the settlement process of daily trades.
U.S. investors can find current financial
disclosure and Real-Time Level 2 quotes for the Company
on https://www.otcmarkets.com/stock/VNPKF/quote.
About Verde AgriTech
Verde AgriTech is dedicated to advancing
sustainable agriculture through the innovation of specialty
multi-nutrient potassium fertilizers. Our mission is to increase
agricultural productivity, enhance soil health, and significantly
contribute to environmental sustainability. Utilizing our unique
position in Brazil, we harness proprietary technologies to develop
solutions that not only meet the immediate needs of farmers but
also address global challenges such as food security and climate
change. Our commitment to carbon capture and the production of
eco-friendly fertilizers underscores our vision for a future where
agriculture contributes positively to the health of our planet.
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/.
About OTC Markets Group
Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates
regulated markets for trading 12,000 U.S. and international
securities. Our data-driven disclosure standards form the
foundation of our three public markets: OTCQX® Best Market, OTCQB®
Venture Market and Pink® Open Market.
OTC Link® Alternative Trading Systems
(ATSs) provide critical market infrastructure that broker-dealers
rely on to facilitate trading. Its innovative model offers
companies more efficient access to the U.S. financial markets.
OTC Link ATS, OTC Link ECN and OTC Link NQB are
each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and
SEC registered broker-dealer, member SIPC.
For further information, visit
www.otcmarkets.com.
Corporate Presentation
For further information on the Company, please
view shareholders’ deck:
https://verde.docsend.com/view/kfha8egve2ipe7jc
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
1 B. Riley Securities is a leading middle market
investment bank that provides capital markets, financial advisory,
and institutional brokerage services to public and private
companies and investors. B. Riley Securities has served corporate
and institutional clients in the United States for over 20 years.
For further information, visit https://brileyfin.com/.
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