TORONTO, May 24, 2013 /PRNewswire/ --
Verde Potash (TSX: "NPK") ("Verde" or the "Company") is pleased to announce Mr. Leonardo Moretzsohn will be joining the Company's Board of Directors in June following the Company's Annual General Meeting taking place on June 5, 2013 at 1:00pm. As an accomplished mining and finance executive, Mr. Moretzsohn brings a wealth of experience to Verde's Board, having served 24 years with Vale S.A. including as CFO of Vale Inco and five years with the EBX Group. During his career, over US$10 billion of capital was raised through Brazilian, international and development banks.
Mr. Moretzsohn has 30 years of project finance experience in the development and implementation of various mining projects, including the Carajas iron ore and Salobo copper projects and the Alunorte alumina refinery. During his 24 year tenure at Vale S.A, Mr. Moretzsohn had an active role restructuring the non-ferrous division after the company's privatization and implementing the strategic planning process for the iron ore and aluminum businesses. Mr. Moretzsohn supported Vale's execution of a number of M&A transactions in iron ore and base metals projects. When Vale acquired Inco, Mr. Moretzsohn was appointed CFO and was a member of the committee responsible for integrating the acquired company into Vale's business model and coordinating the financial activities of Vale Inco and its subsidiaries in Canada, Indonesia and New Caledonia. He has served as a Director on Boards both in Brazil and abroad, including those of PT Vale Indonesia Tbk and Samarco Mineração (a Brazilian iron ore joint venture between Vale S.A. and BHP Billiton).
During his tenure with EBX Group, Mr. Moretzsohn was appointed CFO of MMX Minas Rio and EBX Holding S.A. Mr. Moretzsohn was also appointed CEO of CCX to develop a major greenfield thermal coal project in Colombia. He was instrumental in the growth of EBX from 2007 to 2012 as it became one of the most important resource conglomerates in Brazil.
President and CEO, Cristiano Veloso, commented: "The Company's stage of transition from development to project finance and construction warrants directors strongly integrated with capital markets and development banks. Leonardo is a singular talent with a wealth of relevant experience and relationships that will open a number of important doors for the Company."
About Verde Potash
Verde Potash, a Brazilian fertilizer 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.verdepotash.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.
SOURCE: Verde Potash Plc
For further information:
Cristiano Veloso, President & Chief Executive Officer
Tel: +1(416)866-2966; Fax: (416) 866-8829; Email: cv@verdepotash.com
http://www.verdepotash.com
Jaret Anderson, CFA, VP Corporate Development
Tel: +1(416)866-2966; ext. 223; Fax: (416) 866-8829; Email: ja@verdepotash.com