TORONTO, August 22, 2012 /PRNewswire/ --
Verde Potash (TSX: "NPK")
("Verde" or the "Company") is pleased to announce the appointment
of Mr. Milson Mundim, as the
Company's Chief Financial Officer ("CFO") as part of the Company's
efforts to retool management for construction and operation. Based
out of Belo Horizonte, Brazil, Mr.
Mundim is assuming leadership of current efforts to structure the
non-equity financing of the Cerrado Verde project, while overseeing
the company's regular reporting and treasury functions.
Mr. Milson
Mundim, Verde's new CFO
Mr. Mundim joins the Company bringing extensive experience in
project finance. He has been responsible for recently structuring a
US$400M debt package as CFO of
Hidrovias do Brasil S/A (an integrated waterway logistic operator
in Brazil), including notable
international funding partners, (IFC, IDB, CAF, DEG, CDB), and
local development banks (BNDES, BASA, etc). Previously, as CFO of
Kinross Gold Corporation's Brazilian subisdiary, Mr. Mundim led the
financial structuring of the US$600M
expansion of the Paracatu mine from 150,000 oz/year to 500,000
oz/year. The task included the implementation of tax strategies,
capital controls, working capital financing, and energy cost
hedging strategies. As Vale's General Manager of Business &
Strategy Planning and Project Valuation in their energy division,
Mr. Mundim managed the Company's power procurement of US$1B/year (5% of Brazil's consumption), an operational budget
of US$33M and a total portfolio of
new opportunities appraised at US$2B.
As the Investment Officer of IFC's Carbon Finance Unit in
Washington DC, Mr. Mundim was
responsible for investment in renewable energy projects with carbon
credits under the Clean Development Mechanism in Brazil and South
America, as well as India,
China and Central Europe, where the focus was on small
power plants, wind, biomass and landfill gas. In his career, that
also includes experiences with Suez Energy International and
Deutsche Bank, Mr Mundim has been involved in the structuring of
more than USD 1.5 Billion in Project
Finance, mostly in the power and logistics sectors. Mr. Mundim
completed his MBA in Corporate Finance at Thunderbird, the
American Graduate School of International
Management, graduating with distinction, and a Bachelor of
Economics at UFMG (University Federal de Minas Gerais).
Cristiano Veloso, President &
CEO, said: "Structuring the financing of the Cerrado Verde project
is a major milestone on Verde's path of deliverables. With the
addition of a professional with a solid track record such as Mr.
Milson, the Company inherits existing working relationships with
many groups we hope to partner with to build our project."
The Company would like to thank outgoing CFO Mr. Tim Slater for 7 years of service to the
Company. Mr. Slater will continue to contribute to the Verde team
as Corporate Secretary.
About Verde
Potash
Verde Potash, a Brazilian
fertilizer exploration and development company, is focused on
advancing the Cerrado Verde Project located in the heart of
Brazil's largest agriculture
market. Cerrado Verde is the source of a potash-rich deposit from
which the Company intends to produce potassium chloride (KCl). In
addition, the Company is developing its Calcario limestone project,
limestone being a key raw material in the production of KCl.
About the Cerrado Verde Potash
Project
Cerrado Verde is a unique project: 1) its high grade potash rock
outcrops and is amenable to strip mining, allowing fast
construction of a scalable operation; 2) it is located in the midst
of the world's third largest and fastest growing fertilizer market;
3) it connects to Brazil's largest
fertilizer distribution districts via existing and high quality
infrastructure.; 4) it has the potential to supply KCl to
Brazil's local agriculture market
from its large potash-rich deposit.
Cautionary Language and Forward Looking Statements
NEITHER THE TSX EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE)
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.
Readers are cautioned not to rely solely on the summary of such
information contained in this release and are directed to the
complete set of drill results posted on Verde's website
(http://www.verdeplc.com) and filed on SEDAR (http://www.sedar.com)
and any future amendments to such. Readers are also directed to the
cautionary notices and disclaimers contained herein.
For further information:
Cristiano Veloso, President
& Chief Executive Officer
Tel: +1(416)866-2966; Fax: +1(416)866-8829;
Email: cv@verdepotash.com
http://www.verdepotash.com