TORONTO, May 23, 2017 (GLOBE NEWSWIRE) -- Verde AgriTech (TSX:NPK) ("Verde” or the “Company”) is pleased to announce that it has begun a Pre-Feasibility Study (“PFS”) for the expansions to its Super GreensandTM production.

The expansion project will be implemented in multiple phases and will rely on mining and industrialization contractors, all of which will significantly reduce upfront capital costs. This scalable and modular approach is feasible thanks to the open-pit nature of Verde’s mineral resources and simple production flow sheet, which only requires crushing and milling.

Verde has a NI 43-101 Measured and Indicated Mineral Resource Estimate of 1.47 billion tonnes at a grade of 9.2% K2O that includes a Measured Mineral Resource of 83 million tonnes with an average grade of 10.1% K2O. Additionally, the Inferred Mineral Resource Estimate is 1.85 billion tonnes at a K2O grade of 8.6%.

The PFS will analyze the production schedule below:

  Super Greensand production target  
YearTonnes
2018300,000
2019600,000
20201,800,000
20212,500,000
20223,000,000
202311,000,000
202418,000,000
2025 onwards25,000,000

Verde and its consultants expect to complete the PFS in the last quarter of 2017.

“With Verde now in production and selling, we look forward to ramping-up our production and establishing ourselves as a prominent player in Brazil’s agricultural scene,” said Cristiano Veloso, President and CEO.

Tobacco Results for Super GreensandTM x Sulphate of Potash (“SOP”)
An independent field trial confirmed Super GreensandTM’s efficiency on tobacco crops. Brazil is the world's second largest tobacco producer and, since 1993, the world's largest exporter.1 In the 2016 harvest, about 380 thousand hectares of tobacco were planted in Brazil, its production was estimated in US$1.5 billion.

The field trial was undertaken by a leading American tobacco corporation, in two cities, for five months. The objective was to evaluate the benefits of Super GreensandTM when compared to SOP, a traditionally used source of potash for tobacco.

The results show that Super GreensandTM and SOP have statistically identical performance on Tobacco. Super GreensandTM, however, has the added benefit that it needs to be applied only once per harvest rather than three times as with SOP. Conventional potassium fertilizers, contrary to Super GreensandTM, usually require such multiple applications because they are highly soluble in water and therefore tend to be washed away because of rains.

 Cities
Treatments plots  Chuvisca    Passo do Sobrado  
Productivity (Kg/ha)
Super GreensandTM 3583 a2716 a
SOP3551 a2824 a
Quality
Super GreensandTM 80,1 a78,7 a
SOP83,4 a77,1 a

Tobacco producers choose potash sources free of Chloride such as SOP or Nitrate of Potash instead of Potassium Chloride (KCl), which is 47% chloride, because chloride can cause harmful effects on tobacco yield2. Plus tobacco leaves with chloride gradually acquire some undesirable burning characteristics and the storage life can be reduced, negatively impacting its market value.

Super GreensandTM has virtually no chloride and no salinity, ensuring that crops will not suffer from chloride toxicity. The product can be adopted by all niche markets that apply potash premium sources with further benefits such as eliminating the need for multiple applications per harvest.

Live Presentation
Verde Agritech has a new investor’s presentation available on: http://verdeagritech.com/uploads/releases/ed75e98069fa510d0ea214a48fe58713.pdf

Cristiano Veloso, President and CEO, will host a live meeting on Youtube to discuss this presentation. There will be a question and answer session at the end of the event. Send your questions to email: verde@verdeagritech.com

Date: 14th of June 2017

Time: 2:00 pm (BRT) / 6:00 pm (BST) / 1:00 pm (EDT)

The link to access the session will be https://www.youtube.com/watch?v=cuo37o4mf2Q

About Verde AgriTech

Verde AgriTech promotes sustainable and profitable agriculture through the development of its Cerrado Verde Project. Cerrado Verde, located in the heart of Brazil’s largest agricultural market, is the source of a potassium-rich deposit from which the Company intends to produce solutions for crop nutrition, crop protection, soil improvement and increased sustainability.

For additional information please contact:

Cristiano Veloso, President & Chief Executive Officer

Tel: +55 (31) 3245 0205; Email: cv@verdeagritech.com

www.verdeagritech.com

www.supergreensand.com

Cautionary Language and Forward Looking Statements

Neither the TSX nor its regulation services provider (as that term is defined in the policies of the TSX) 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.

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1 SINDITABACO http://sinditabaco.com.br/en/about-the-sector/dimension-of-the-sector/

2 FAO http://www.fao.org/docrep/003/T0234E/T0234E05.htm