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Verde Agritech Ltd
Symbol NPK
Shares Issued 52,669,724
Close 2025-04-17 C$ 0.56
Market Cap C$ 29,495,045
Recent Sedar Documents

Verde Agritech files amended report for Man of War

2025-04-17 19:46 ET - News Release

Mr. Cristiano Veloso reports

VERDE AGRITECH FILES AMENDED NI 43-101 TECHNICAL REPORT FOR THE MAN OF WAR RARE EARTHS PROJECT

As a result of a review by staff of the Ontario Securities Commission, Verde Agritech Ltd. is issuing the following news release regarding disclosure on the Man of War project. The company has filed an amended and restated National Instrument 43-101 technical report for the project, located in Minas Gerais, Brazil.

The updated technical report, effective as of Dec. 18, 2024, and dated March 31, 2025, has been amended by BNA Mining Solutions to addresses comments received from staff of the OSC. The amended technical report has removed disclosure of the geological resources and in situ resources, which do not have reasonable prospects for eventual economic extraction, rounded the mineral resource estimates to significant figures, and removed excessive appendixes along with several other amendments.

The technical report titled "NI 43-101 Technical Report Mineral Resources for the Man of War Project" is available under the company's profile on SEDAR+.

About Verde Agritech Ltd.

Verde is an agricultural technology company that produces potash fertilizers. Its purpose is to improve the health of all people and the planet. Rooting its solutions in nature, it makes agriculture healthier, more productive and profitable.

Verde is a fully integrated company: It mines and processes its main feedstock from its 100-per-cent-owned mineral properties, and then sells and distributes the product.

Verde's focus on research and development has resulted in one patent and eight patents pending. Among its proprietary technologies are Cambridge Tech, 3D Alliance, MicroS Technology, N Keeper and Bio Revolution. Currently, the company is fully licensed to produce up to 2.8 million tonnes per year of its multinutrient potassium fertilizers K Forte and Baks, sold internationally as Super Greensand. In 2022, it became Brazil's largest potash producer by capacity. Verde has a combined measured and indicated mineral resource of 1.47 billion tonnes at 9.28 per cent K2O and an inferred mineral resource of 1.85 billion tonnes at 8.60 per cent K2O (using a 7.5-per-cent K2O cut-off grade). This amounts to 295.70 million tonnes of potash in K2O. For context, in 2021, Brazil's total consumption of potash in K2O was 6.57 million.

Brazil ranks second in global potash demand and is its single largest importer, currently depending on external sources for over 97 per cent of its potash needs. In 2022, potash accounted for approximately 3 per cent of all Brazilian imports by dollar value.

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