TORONTO,
Oct. 6, 2014 /CNW/ - Verde Potash (TSX: "NPK") ("Verde" or the
"Company") is pleased to announce that Brazil's National Council for Scientific and
Technological Development ("CNPq", Conselho Nacional de
Desenvolvimento Científico e Tecnológico) has awarded Dr.
Gaspar Korndörfer, Professor at the
Federal University of Uberlândia ("UFU"), a research grant of
R$513,693.90 (approximately CAD
$236,000) to fund a research program
to further demonstrate the full range of agronomic applications of
ThermoPotash ("TK").
TK is a highly efficient source of potash that has numerous
agronomic applications such as: a) increasing plant resistance
against diseases, insects and drought; b) correcting soil acidity
without releasing CO2; c) increasing soil availability
of Phosphate; and d) improving food quality and taste. TK has a
multitude of benefits yet to be explored and quantified. This
research will be an important contribution towards fully
understanding the whole array of advantages offered by this
innovative fertilizer ideally conceived for tropical
agriculture.
The proposal from UFU to further develop TK was one of the
chosen applications to a CNPq research fund program
(MCTI/CT-Agronegócio/CNPq Nº 38/2013) that supports research
projects, development and/or technological innovation focused on
agricultural inputs.
The CNPq financed TK research program at UFU will have two
phases. The first phase will consist of lab work, to be held at the
Institute of Agricultural Science at UFU, involving the in-house
cultivation of millet. The second phase will involve fieldwork with
sugarcane culture aged one and one and a half years old, to be
planted in fields close to the university. Both phases will involve
chemical, incubation and leaching processes. In total over 50
tonnes of TK will be applied.
President & CEO, Cristiano
Veloso, commented: "I would like to congratulate Dr.
Gaspar Korndörfer for overseeing
this groundbreaking research. As one of Brazil's leading agronomists of soil fertility
and one of the world's foremost experts in sugar cane plantation,
Dr. Korndörfer is aptly placed to conduct this TK research program.
It is encouraging to see the Brazilian federal government investing
over half a million Brazilian reais in the development of TK."
Work on using the Company's potassium silicate rock to produce
TK began in the early 1980s by Brazilian academics. Verde built on
that work with its own research and development, having started its
own agronomic trials in 2009 and have continued through to the
present. The results of these tests have demonstrated the product's
efficacy as a source of potassium, silicon and calcium, as well as
its ability to address the acidity of Brazilian soils. As a result,
the Brazilian Ministry of Agriculture (MAPA) approved TK for use as
a potash fertilizer on June 24, 2013,
making the product eligible for sale in Brazil. The additional work Dr. Korndörfer
will be conducting is expected to continue adding value to the
product, confirming its advantages in improving agronomic
efficiency, increasing consumers and universities knowledge and
thus providing an excellent marketing tool for the product.
About Professor Gaspar Korndörfer
Dr. Gaspar Korndörfer is
currently a Professor of Agriculture at the Graduate Institute of
Agronomy of Agricultural Sciences at the Federal University of
Uberlândia. He has a post-doctorate from the University of Florida and earned his doctorate in
Soil Science and Plant Nutrition from ESALQ of the University of
São Paulo, Brazil. His past
research includes groundbreaking work on the use of biologically
available silica in the plantation of sugarcane, demonstrating
silica's role in protecting crops from pests and enhancing crop
resistance to drought. During his career, Dr. Korndörfer has
published one book, 13 book chapters, over 120 articles in national
and international journals and 219 papers in conferences. He has
produced 21 technical innovations for production. He has
participated in more than 30 scientific events abroad, many of
which as a guest speaker. From 2007-2011, Dr. Korndörfer served as
a Member of the Chamber of Agriculture of FAPEMIG, the Foundation
for Research Support of the State of Minas Gerais. Dr. Korndörfer
specializes in Soil Fertility and Plant Nutrition, Management and
Fertilization of Sugarcane Production and Fertilizer
Technology.
About the Federal University of Uberlandia
The Federal University of Uberlândia ("UFU"), located in
Uberlândia, Minas Gerais, is a renowned educational institution and
is amongst the best universities in Brazil. The UFU supports the formation of
groups of institutional research to stimulate scientific production
and technological innovation. It is an institution that values
critical dialogue with the community so as to ensure access to all
economic, scientific, technological and artistic cultural
heritages.
About CNPq
CNPq, a research financing branch of the Federal Government,
fosters scientific and technological research, encourages the
formation of Brazilian researchers, and contributes to the national
development and recognition of research and Brazilian researchers
from various institutions of the international scientific
community. CNPq invests over US$ 400
million annually in science, technology and innovation
projects.
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 ThermoPotash and potassium chloride (KCl).
ThermoPotash is a controlled-release, non-chloride, multi-nutrient
fertilizer that is ideally suited for Brazilian soils.
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.
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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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SOURCE Verde Potash Plc