SINGAPORE, March 13, 2024 (GLOBE NEWSWIRE) — Verde AgriTech Ltd (TSX: “NPK”) (“Verde” or the “Company”) is pleased to announce that it will participate at the 36^th Annual Roth Conference (the “Conference”). The Conference will take place in Laguna Niguel, California, from March 17, 2024 to March 19, 2024, and Verde will be represented by its Vice President of Corporate Development, Mr. Lucas Brown. Mr. Brown will be available for one-to-one meetings during the Conference to promote investment opportunities and present the Company’s carbon removal project.

Recently, Verde announced a strategic partnership with WayCarbon, a company that is 80% owned by Banco Santander, to bolster the development and monetization of its carbon removal project.¹ The partnership is based on Verde’s specialty multi-nutrient potassium fertilizer K Forte® (the “Product”) and its potential to permanently remove CO₂ from the atmosphere through Enhanced Rock Weathering (“ERW”). Within this partnership, WayCarbon will support Verde with the development, certification, marketing and monetization of its carbon credits. In addition to leveraging Verde’s Product, the partnership extends its scope to encompass Verde’s origination and utilization of other minerals capable of carbon removal through ERW.

As detailed by an independent study conducted at Newcastle University under the leadership of Prof. David Manning, PhD, the carbon dioxide removal potential of K Forte® is estimated at 120kg CO₂ per ton of Product.² The CO₂ removal potential does not require any change to the Product’s farmland application methods, nor does it change the nutritional benefits to plants. Therefore, Verde’s Product not only provides a sustainable source of potassium to plants but is also set to play a key role in reducing the agricultural sector’s carbon footprint.

“I’m looking forward to representing Verde at the 36^th Annual Roth Conference. Our carbon removal project is reaching a level of maturity where we are actively looking for investors to support its growth. This Conference is a key opportunity for us to engage directly with potential partners who understand the importance of our work in sustainable agriculture,” stated Mr. Lucas Brown, Vice President of Corporate Development at Verde AgriTech.

The 36^th Annual Roth Conference will host over 500 private and public companies, including sectors like Consumer, Technology & Media, Sustainability & Industrial Growth, AgTech, Energy, Metals & Mining, Healthcare, Services, and Insurance.

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

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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:

1. the estimated amount and grade of Mineral Resources and Mineral Reserves;
2. the estimated amount of CO₂ removal per tonne of rock;
3. the PFS representing a viable development option for the Project;
4. 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;
5. the estimated amount of future production, both produced and sold;
6. timing of disclosure for the PFS and recommendations from the Special Committee;
7. the Company’s competitive position in Brazil and demand for potash; and,
8. 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:

1. the presence of and continuity of resources and reserves at the Project at estimated grades;
2. the estimation of CO₂ removal based on the chemical and mineralogical composition of assumed resources and reserves;
3. 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;
4. the capacities and durability of various machinery and equipment;
5. the availability of personnel, machinery and equipment at estimated prices and within the estimated delivery times;
6. currency exchange rates;
7. Super Greensand® and K Forte® sales prices, market size and exchange rate assumed;
8. appropriate discount rates applied to the cash flows in the economic analysis;
9. tax rates and royalty rates applicable to the proposed mining operation;
10. the availability of acceptable financing under assumed structure and costs;
11. anticipated mining losses and dilution;
12. reasonable contingency requirements;
13. success in realizing proposed operations;
14. receipt of permits and other regulatory approvals on acceptable terms; and
15. 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: [email protected]

www.verde.ag | www.investor.verde.ag

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¹ See “Verde announces partnership with leading carbon developer, WayCarbon, to monetise carbon credits”.
² See “Verde’s Products Remove Carbon Dioxide From the Air”.

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