233,000 Tonnes per Year License Granted to Verde

BELO HORIZONTE, Brazil, Aug. 20, 2020 (GLOBE NEWSWIRE) -- Verde AgriTech Plc (TSX: “NPK”) (OTCQB: “AMHPF”) ("Verde” or the “Company”) is pleased to announce it has received the full environmental license for mining up to 233,000 tonnes per year (“tpy”) of its multinutrient potassium fertilizer, marketed and sold in Brazil under the K Forte brand and internationally as Super Greensand (the “Product”).

The Company had been awarded the Mining Concession for this area, Mine Pit 1, in Q3 2019. The applications for Environmental Licenses for Mine Pit 1 started back in 2014. On August 19, 2020, the final stage of environmental permitting that authorizes the start mining activities, called ‘Operational License’, was published by the state government. The License is valid until 2030.

With this latest Operational License the Company is fully permitted to mine 432,800 tpy (i.e. Verde holds both a mining Concession/Permit and Environmental Licenses) and has submitted applications for an additional 2,500,000 tpy still pending approval.

“This license represents another great step for Verde’s expansion plans. Though we will not reduce the drive towards obtaining the 2,500,000 tpy Mining Concession and Environmental Licenses. In parallel Verde will continue to research and develop new sustainable technologies to support global food production,” said Cristiano Veloso, Verde’s founder, President and CEO.

SUMMARY OF LICENSES AND PERMITS

The Company has 3 different mine pits, each at different permitting stages and targeting different volumes, as summarized in the table below.

Mine Pit	Fully Permitted to Produce (tpy)	Mining (tpy)		Environmental (tpy)
		Granted	Pending	Granted	Pending
1	233,000	233,000	0	233,000	0
2	150,000	150,000	25,000,000	200,000	2,500,000
3	49,800	49,800	2,500,000	49,800	0
Total	432,800	432,800	27,500,000	482,800	2,500,000

Q2 2020 CONFERENCE CALL DETAILS