TORONTO, Jan. 14, 2014 /CNW/ - Verde Potash (TSX: "NPK") ("Verde" or the "Company") is pleased to welcome Mr.
Alysson Paulinelli to the Company's Board of Directors. Mr. Paulinelli
is the President of the Brazilian Association of Corn Producers.
Mr. Paulinelli has a distinguished career devoted to the agricultural
sector and government, having held positions such as the Brazilian
Minister of Agriculture, President of the National Confederation of
Agriculture, Congressman, Secretary of Agriculture for Minas Gerais
State, and Professor and Dean of Lavras University. In 2006 he was
awarded the World Food Prize.
President and CEO, Cristiano Veloso, commented: "It is a great honour
for Verde to have Mr. Alysson Paulinelli join the Board of Directors.
His reputation and leadership in Brazilian agriculture will be
invaluable assets in establishing and growing the ThermoPotash market".
Having served twice as Secretary of Agriculture of Minas Gerais, between
1971-1974 and between 1991-1998, Mr. Paulinelli was instrumental in
realizing the potential of the Cerrado to make Brazil one of the
world's great breadbaskets. To such end, he developed policies, created
institutions, constructed specialized infrastructure and increased
support for agricultural research and training. During his tenure, Mr.
Paulinelli enabled large-scale development in the Cerrado by
implementing a new model of financing agricultural production that
consisted of loans at very low interest rates, with extended grace
periods and payments, which allowed farmers to reinvest a share of
their profits. Still on the financing front, he fostered a new mix of
loans from public, private and foreign sources, including an agreement
between Brazil and Japan to secure financial resources needed to
further advance the Cerrado region.
In 1974, Mr. Paulinelli was nominated Brazil's Minister of Agriculture.
As Minister, he established the Brazilian Agricultural Research
Corporation (EMBRAPA), the world's leading tropical agriculture
research institution, which studies, improves and transfers
technologies for advancing modern agriculture throughout the country.
As a branch of EMBRAPA, Mr. Paulinelli also established the Cerrado
Center (CPAC), which focuses on agricultural development in that
region. Such initiatives have earned Mr. Paulinelli portrayals such as
"the leader that farmers have consistently turned to solve their
problems and assist them in advancing agricultural and rural
development".1
Mr. Paulinelli received his Agronomy Engineering degree in 1959 from the
Federal University of Lavras, in Minas Gerais State, where he later
served as Professor and Dean, having been integral in establishing the
school as one of the top agricultural universities in Brazil. In 1986,
he represented Minas Gerais State in Congress, taking part of the
National Constitutional Assembly (1987-1988), which was responsible for
drafting Brazil's current constitution. In 2006, Mr. Paulinelli
received the World Food Prize for his contribution to changing the
Cerrado region into productive land. Mr. Paulinelli also implemented
the Brazilian Cerrado Cultivation and Development Program (Programa de
Aproveitamento e Desenvolvimento do Cerrado Brasileiro), implemented
the Brazilian Cerrado Development Program (Programa de Desenvolvimento
do Cerrado Brasileiro) and created the Agribusiness Institute of Minas
Gerais.
Retirement of Director, Dr. Richard Garnett
At age 78, Dr. Richard Garnett will be retiring due to personal reasons.
He served as a director since 2011 and as a technical consultant since
2008. The Company wishes to thank Dr. Garnett for his immense
contribution to the project during these past years.
President and CEO, Cristiano Veloso, said: "I wish to thank Dr. Garnett
for his years of help in shaping our growth and development, and
express my appreciation for having had the opportunity to work with
such a respected mining professional".
About EMBRAPA
The Empresa Brasileira de Pesquisa Agropecuária ("EMBRAPA") (Brazilian
Agricultural Research Corporation) is a state-owned company affiliated
with the Brazilian Ministry of Agriculture, which is devoted to pure and applied research on agriculture. EMBRAPA's mission is to provide feasible solutions for the sustainable
development of Brazilian agribusiness through knowledge and technology
generation and transfer.
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 both
ThermoPotash and potassium chloride (KCl). ThermoPotash is a
controlled-release, non-chloride, multi-nutrient fertilizer that is
ideally suited for Brazilian soils. In addition, the Company is
developing its Calcario limestone project, limestone being a key raw
material in the Company's process to produce both ThermoPotash and 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 both
ThermoPotash and KCl to Brazil's local agriculture market from its
large potash-rich deposit.
Cautionary Language and Forward Looking Statements
This news release contains certain forward-looking information, which
includes but is not limited to, statements with respect to the
Company's strategy, funding of the Cerrado Verde project, the
commercial production of ThermoPotash, and the generation of cash flow
from the sale of ThermoPotash. Forward-looking information involves
known and unknown risks, uncertainties and other factors, which may
cause actual results, performance or achievements of the Company to
differ materially from the forward-looking information. Material risk
factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited to, the
failure to obtain necessary regulatory approvals, failure to receive
funding, failure to obtain financing on acceptable terms, risks
associated with the mining industry in general (e.g., operational risks
in development, exploration and production; delays or changes in plans
with respect to exploration or development projects or capital
expenditures; the uncertainty of estimates and projections relating to
production, costs and expenses, and health, safety and environmental
risks), commodity price, demand for ThermoPotash in Brazil, exchange
rate fluctuations and other risk factors set out in the Company's most
recently filed Annual Information Form under the heading "Risk
Factors". Currently, ThermoPotash is not commercially produced or sold
in Brazil. As a consequence, there is no current market for this
product. Should commercial demand for ThermoPotash fail to develop, the
Company's business model may not be appropriate. Accordingly, readers
should not place undue reliance on such forward-looking information.
Material factors or assumptions used to develop such forward-looking
information include, but are not limited to, the demand for
ThermoPotash and KCl in Brazil, the ability to secure necessary
environmental and mining permits, the ability to secure financing, and
other assumptions set out in the Company's current technical report.
The Company does not currently intend to update forward-looking
information in this news release except where required by law.
Readers are cautioned not to rely solely on the summary of such
information contained in this release and are directed to the complete
corporate history available on Verde's website (www.verdepotash.com) and filed on SEDAR (www.sedar.com) and any future amendments to such. Readers are also directed to the
cautionary notices and disclaimers contained herein.
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1 Cremaq, Piauí. "The miracle of the cerrado". The Economist. The Economist, 26 Aug. 2010. Web. 26 Aug. 2010.
SOURCE Verde Potash Plc
