Verde begins the second phase ramp-up of Plant 2, reaching a production of 2.4Mtpy. Canadian Business Journal

SINGAPORE, 1 NOVEMBER 2022 (GLOBE NEWSWIRE) — Verde Agritech Co., Ltd. (TSX: “NPK) (“OTCMKTS:”VNPKF“) (“Verde” or “Company) is located in the second production plant (“2nd factory) has been completed and is now increasing from 1.2 million tonnes per year (“MtpySuper Greensand® (“product”).

The second plant will start operation on August 31, 2022 with a capacity of 1.2Mtpy. We have reached our nameplate capacity on October 26, 2022.¹ In parallel, the second plant was in the process of being expanded to produce 2.4Mtpy, construction of which is now complete.

“We look forward to the positive economic benefits that the additional production capacity will bring to Verde’s bottom line. It’s a source of information,” said Cristiano Veloso, Founder and CEO of Verde.

Verde’s Plant 1 operates at a capacity of 0.6Mtpy and Plant 2 at a capacity of 1.2Mtpy for a total of 1.8Mtpy. The second plant has a capacity of 2.4Mtpy, and once the start-up is complete, the company’s overall capacity will be 3Mtpy.

About Verde Agritech

Verde is an agricultural technology company that produces potash fertilizers. Our aim is to improve the health of all people and the planet. By rooting our solutions naturally, we make agriculture healthier, more productive and more profitable.

Verde is a fully integrated company, from the extraction and processing of primary raw materials from 100% owned mineral properties, to the product sales process including technical advice and distribution directly to farmers.

Verde’s focus on R&D has resulted in 1 patent and 8 patents pending. Its proprietary technologies include Cambridge Tech, 3D Alliance, MicroS Technology, N Keeper, and Bio Revolution.² We are now fully licensed to produce up to 2.8 million tons per year of multi-nutrient potassium fertilizers K Forte® and BAKS®, marketed internationally as Super Greensand®.³ By the end of 2022, it plans to become the largest potash producer in Brazil in terms of production capacity.^Four Verde has a measured and labeled mineral resource of 1.47 billion tons at 9.28% K.₂Inferred Mineral Resource of 1.85 billion tonnes in O and 8.60% K₂O (using 7.5% K)₂O cutoff grade).^Five This equates to 295.7 million tons of potash in K.₂O. For context, total potash consumption in Brazil in 2021 (K)₂O was 7.92 million.⁶

Brazil ranks second in global potash demand and is the single largest importer, currently relying on external sources for more than 96% of its potash needs. In 2021, potash accounted for about 2% of all Brazilian imports in dollar terms.

corporate presentation

For more information on the company, please see our shareholders’ deck.

https://verde.docsend.com/view/mj53b6dibeek4hzq

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Cautionary Statements and Forward-Looking Statements

All mineral reserves and resource estimates reported by the Company were estimated in accordance with National Document 43-101 of Canada and the Canadian Mining, Metallurgical and Petroleum Definition Standards (May 10, 2014). These standards differ significantly from the requirements of the US Securities and Exchange Commission. Mineral resources that are not mineral reserves have not shown economic viability.

This document contains “forward-looking information” within the meaning of the Canadian Securities Act and “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. “Forward-Looking Statements” are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect our current estimates, projections, expectations or beliefs about future events, including statements regarding: is not limited to

1. Estimates and grades of mineral resources and mineral reserves;
2. PFS representing viable development options for the project;
3. Construction of mining facilities, commencement of mine production, maintenance of capital, and estimation of capital costs for the payback period.
4. Estimated amount of future production produced and sold.
5. Timing of PFS Disclosure and Recommendations from the Task Force.
6. Our competitiveness and demand for potash in Brazil. When,
7. Estimates of operating and total costs, net cash flow, net present value, and economic benefits from operating mines.

All statements (often, but not always, “expect,” “anticipate,” “plan ), “project”, “estimate”, “assumption”, “assumption”, “intent”, “strategy”, “goal”, “objective”, or variations thereof, or A particular action, event, or outcome ‘could’, ‘states that’ ‘could’, ‘would’, ‘could’, or ‘would’ be taken, occurs statements such as will or will be achieved or negative forms of these terms and similar expressions) may be forward-looking statements rather than statements of historical fact.

All forward-looking statements are based on Verde’s or its consultants’ current beliefs and various assumptions made by them and information currently available. The most important assumptions are listed above, but generally these assumptions include, but are not limited to:

1. Presence and continuity of resources and reserves in projects at probable grade.
2. Geological and metallurgical properties of rocks consistent with sampling results. Includes quantity and quality of water that must be diverted or treated during mining operations.
3. Capacity and durability of various machines and equipment.
4. Availability of personnel, machinery and equipment within the quoted price and quoted delivery date;
5. Exchange rate;
6. Super Greensand® and K Forte® selling prices, market size, assumed exchange rates.
7. Appropriate discount rate applied to cash flows in economic analysis.
8. Tax and royalty rates applicable to the proposed mining operation.
9. Acceptable funding availability under assumed structure and costs;
10. Expected mining losses and dilution.
11. reasonable contingency requirements;
12. Successful implementation of the proposed operation.
13. receipt of permits and other regulatory approvals on acceptable terms;When
14. Fulfillment of environmental assessment commitments and agreements with local communities.

Although management believes these assumptions are reasonable based on currently available information, they may prove incorrect. Many forward-looking statements are based on the accuracy of other forward-looking statements, such as net present value and internal rate of return statements, which are not consistent with other forward-looking statements in this document. Based on most assumptions. Cost information is also created using current values, but it is assumed that costs will occur in the future and that costs will remain stable over time.

Forward-looking statements, by their nature, involve inherent risks and uncertainties, both general and specific, and the risk that estimates, projections, projections and other forward-looking statements may not be achieved; Or there is a risk that the assumptions do not reflect future experience. A number of important factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, projections, estimates, assumptions and intentions expressed in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. statement. These risk factors may generally be expressed as the risk that the above assumptions and estimates will not occur as expected, but more specifically the risk of mineral content within substances identified as Mineral Resources and Mineral Reserves. including, but not limited to, risks associated with volatility; prediction; variation in recovery and extraction rates; If the geological properties of the rocks that were mined or on which the infrastructure was built differ from those predicted, the amount of water that must be diverted or treated during mining operations may be encountered during mining operations or after closure. If different than expected or the water flow rate is different. developments in global metals markets; risks associated with changes in the Brazilian real against the Canadian dollar; Estimated capital and operating costs or unexpected cost increases. It is difficult to attract the necessary labor force. if there is an increase in funding costs or an adverse change in available funding terms; Tax rates or royalties higher than expected. Changes in development or mining plans due to changes in logistics, technology, or other factors. As plans continue to be refined, project parameters change. Risks Associated with Receiving Regulatory Approvals. delays in negotiating with stakeholders; changes in regulations governing the development, operation and closure of mining operations from those currently in place; the impact of competition in the markets in which Verde operates; Operational and infrastructure risks and additions as described in Verde’s Annual Information Form (available at www.sedar.com) filed with his SEDAR in Canada for the year ended December 31, 2021 risk. Verde notes that the aforementioned list of factors may influence future results and is not exhaustive.

Investors and other parties should carefully consider the aforementioned factors and other uncertainties and potential events when relying on our forward-looking statements in making decisions about Verde. I have. Verde does not undertake, whether written or oral, to update any forward-looking statements that may be made from time to time on behalf of Verde or us, except as required by law.

For more information, please contact:

Cristiano VelosoFounder, Chairman and CEO

Phone: +55 (31) 3245 0205; Email: [email protected]

www.investor.verde.ag | www.supergreensand.com | www.verde.ag

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¹ View Release: https://investor.verde.ag/wp-content/uploads/2022/10/Verde-AgriTech-Press-Release-Plant-2-Reaches-Name-Plate-Capacity-1.2Mtpy.pdf
² For more information on our technology, please visit https://verde.docsend.com/view/yvthnpuv8jx6g4r9.
³ See release: https://investor.verde.ag/2-5-million-tonnes-per-year-potash-mining-concession-granted-to-verde/
^Four See release at https://investor.verde.ag/verde-to-reach-3-million-tonnes-potash-production-capacity-in-2022/.
^Five In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects within Canada (“NI 43-101”), submitted to SEDAR in 2017. -content/uploads/2021/01/NI-43-101-Pre-Feasibility-Technical-Report-Cerrado-Verde-Project.pdf
⁶ Union of the Agricultural Fertilizer and Remediation Industry of the State of São Paulo (“SIACESP”, Sindicato da Indústria de Fertilizantes e Corretivos Agropecuários, no Estado de São Paulo).

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