Verde Announces Second Quarter 2018 Results
2018年8月15日 - 8:00AM
Verde AgriTech Plc (TSX: “NPK”) (OTCQB: “AMHPF”)
("Verde” or the “Company”) is pleased to announce its second
quarter 2018 results.
Highlights:- In May 2018, the
Group secured funding from BNDES (through Santander Bank) of
approximately $350,000 (B$1,040,000) to finance the turnkey
agreement to build a 45 tons per hour Super Greensand® production
facility.- In June 2018, the Group confirmed the new processing
plant was on budget and schedule.
Subsequent Event:- In July
2018, Verde announced the start-up of its processing plant. The
cost of the production facility was US$ 600 thousand, part of which
was spent on ground work necessary for an expansion to reach the
600 thousand tons per annum capacity projected for Phase 1 in the
pre-feasibility study (“PFS”).
Sales update- Announcement of a
broader line of Super Greensand® products, which now has a line of
3 versions: Micronized, Powder and Granular. In May 2018 Verde
concluded the first sale of Super Greensand® Granular to its US
Distributor. Super Greensand® Micronized has been supplied to
Distributor since 2017.- Verde sold $166,850 of Super Greensand®.
In accordance with applicable accounting rules, revenue from
delivered sales has been credited against the Cerrado Verde project
until commercial production is reached.
Verde’s President & CEO, Cristiano Veloso
commented: “The first sales of Super Greensand® have not been easy
and we expect that will be the case for, at least, the first 50
thousand tons of the product. The pace of sales is accelerating
thanks to the sowing season of the second half of 2018 and return
costumers who, for the second consecutive harvest, have opted to
use Verde’s Super Greensand®.”
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.
For additional information please
contact:Cristiano Veloso, President &
Chief Executive OfficerTel: +55 (31) 3245 0205; Email:
cv@verdeagritech.com www.verdeagritech.com
| www.supergreensand.com
Visit and subscribe to our YouTube
Channelwww.youtube.com/verdeagritech
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Statements
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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
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state that certain actions, event, or results "may", "could",
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different from any future results, performance or achievements
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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.
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