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