Verde AgriTech Ltd. (TSX: “NPK”) (OTCQX: “VNPKF”)
("
Verde” or the “
Company”)
announces that its President and Chief Executive Officer, Cristiano
Veloso, has terminated the automatic securities disposition plan
(the "
ASDP") previously announced in the Company's
press release dated September 28, 2023.1
Mr. Veloso was not in possession of material
non-public information at the time the securities broker was
provided with notice to terminate the ASDP. In accordance with the
terms of the ASDP, the termination will become effective on January
24, 2025, being 30 days following the date notice of termination
was provided. This decision relates to personal financial planning
and confirms Mr. Veloso’s confidence in the company’s future
prospects.
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.
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:
(i) |
|
the estimated amount and grade of Mineral Resources and Mineral
Reserves; |
|
|
|
(ii) |
|
the estimated amount of CO2 removal per ton of rock; |
|
|
|
(iii) |
|
the PFS representing a viable development option for the
Project; |
|
|
|
(iv) |
|
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; |
|
|
|
(v) |
|
the estimated amount of future production, both produced and
sold; |
|
|
|
(vi) |
|
timing of disclosure for the PFS and recommendations from the
Special Committee; |
|
|
|
(vii) |
|
the Company’s competitive position in Brazil and demand for
potash; |
|
|
|
(viii) |
|
estimates of operating costs and total costs, net cash flow, net
present value and economic returns from an operating mine. |
|
|
|
(ix) |
|
the expected terms of the debt restructuring; |
|
|
|
(x) |
|
the expected financial impact of the debt restructuring to the
Company; |
|
|
|
(xi) |
|
the timeline for court approval of the debt restructuring; and |
|
|
|
(xii) |
|
the potential arising from the re-assaying of certain core
samples. |
|
|
|
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:
(i) |
|
the presence of and continuity of resources and reserves at the
Project at estimated grades; |
|
|
|
(ii) |
|
the estimation of CO2 removal based on the chemical and
mineralogical composition of assumed resources and reserves; |
|
|
|
(iii) |
|
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; |
|
|
|
(iv) |
|
the capacities and durability of various machinery and
equipment; |
|
|
|
(v) |
|
the availability of personnel, machinery and equipment at estimated
prices and within the estimated delivery times; |
|
|
|
(vi) |
|
currency exchange rates; |
|
|
|
(vii) |
|
Super Greensand® and K Forte® sales prices, market size and
exchange rate assumed; |
|
|
|
(viii) |
|
appropriate discount rates applied to the cash flows in the
economic analysis; |
|
|
|
(ix) |
|
tax rates and royalty rates applicable to the proposed mining
operation; |
|
|
|
(x) |
|
the availability of acceptable financing under assumed structure
and costs; |
|
|
|
(xi) |
|
anticipated mining losses and dilution; |
|
|
|
(xii) |
|
reasonable contingency requirements; |
|
|
|
(xiii) |
|
success in realizing proposed operations; |
|
|
|
(xiv) |
|
receipt of permits and other regulatory approvals on acceptable
terms; and |
|
|
|
(xv) |
|
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 related to the
court approval process for the debt restructuring; 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, 2023. 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 See:
https://investor.verde.ag/automatic-securities-disposition-plan-established-by-verde-agritech-chief-executive-officer-2/
Verde Agritech (TSX:NPK)
過去 株価チャート
から 11 2024 まで 12 2024
Verde Agritech (TSX:NPK)
過去 株価チャート
から 12 2023 まで 12 2024