TORONTO, May 16, 2017 (GLOBE NEWSWIRE) -- Verde AgriTech NPK ("Verde" or the "Company") is pleased to announce that it has gone into production and has concluded its first export of Super GreensandTM to the United States' cannabis and organic markets.
Super GreensandTM is a multi-nutrient product. It is approved for organic agriculture, it has effectively no salinity and no chloride.
Looking beyond its first export, the Company is in advanced discussions with a leading United States based organic agriculture supplier and distributor with which it expects to sign an agreement in the coming weeks that will bolster and support the Company's presence in the cannabis and organic markets of the United States.
High Value Crops sensitive to salinity
In the United Sates, the Company will also target high value crops sensitive to salinity that are currently grown in areas suffering from high levels of soil salinity and drought. The main target will be almonds grown in the Central Valley of California1, where accumulated salinity reaches critical levels. Almonds are classified as highly intolerant to salinity2 and the target region is responsible for over 80% of California's US$6.4 Billion3 production, though the region is now being crippled by salinity and drought problems. Whereas Verde's Super GreensandTM salinity index is only 0.17%, the two main sources of potash have very high salinity indexes: 116% for potassium chloride and 46% for sulphate of potash.
"We are pleased to have American growers adopting the benefits of Super GreensandTM and will work to expand this growth market. Brazil will remain our primary focus and we look forward to selling all our initial production in the coming months," Cristiano Veloso President & CEO declared.
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1 USGS. https://ca.water.usgs.gov/projects/central-valley/about-central-valley.html
2 Groundwater Salinity Impacting California Almonds http://www.growingproduce.com/nuts/groundwater-salinity-impacting-california-almonds/
3 AgMRC. http://www.agmrc.org/commodities-products/nuts/almonds/
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
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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