TORONTO, June 20,
2014 /CNW/ - Verde Potash (TSX: "NPK") ("Verde" or
the "Company") held its Annual General Meeting ("AGM") of
shareholders on Friday June 20, 2014
in Toronto, Ontario, Canada and would like to announce the final
voting results.
At the AGM, all director nominees listed in the
Company's management information circular dated May 14, 2014 were elected as directors of the
Company. In addition, shareholders adopted the Directors' Report,
the Audited Statement of Accounts and the Auditors' Report for the
year ended December 31, 2013 and
appointed BDO LLP as auditors of the Company to hold office until
the next annual meeting. The detailed results of the vote are as
follows:
| |
|
| Item Voted Upon |
Voting Result |
1. To receive and adopt the Directors' Report,
the Audited Statement of Accounts
and the Auditors' Report for the year ended December
31st, 2013. |
* The resolution was approved
by shareholders on a show of hands |
2. To appoint the auditors, BDO LLP, as the
Auditors of the Company for the
ensuing year, and to authorise the directors of the Company to fix
their
remuneration. |
* The resolution was approved
by shareholders on a show of hands |
3. Election of Directors nominated in the
Company's management information
circular dated May 14th, 2014. |
* The nominees
proposed by management were elected by ballot
by shareholders, as follows:
| |
Votes For |
Votes Withheld/Against |
| Cristiano Veloso |
6,542,616 |
41,974 |
| |
(99.36%) |
(0.64%) |
| Getulio Lamartine de
Paula Fonseca |
| |
6,572,730 |
11,860 |
| |
(99.82%) |
(0.18%) |
| Renato Gomes |
6,467,437 |
222,306 |
| |
(98.22%) |
(1.78%) |
| Alysson
Paulinelli |
6,572,330 |
12,260 |
| |
(99.81%) |
(0.19%)
|
|
At the conclusion of the meeting, President
& CEO, Cristiano Veloso, gave a presentation which will be made
available on the Company's website at www.verdepotash.com.
About Verde Potash
Verde Potash, a Brazilian fertilizer development
company, is focused on advancing the Cerrado Verde Potash 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 both ThermoPotash ("TK") and potassium
chloride ("KCl"). TK is a controlled-release, non-chloride,
multi-nutrient fertilizer that is ideally suited for Brazilian
soils. In addition, the Company is developing its Calcario
limestone project, limestone being a key raw material in the
Company's process to produce both TK and KCl.
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 TK and KCl
to Brazil's local agriculture market from its large potash-rich
deposit.
Forward Looking Information
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 KCl, design and building
of a Flex Plant, timing and completion of a prefeasibility study,
receipt of environmental permits, and the generation of cash flow
from Phase 1 of the new strategy. 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 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 and KCl 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. |
SOURCE Verde Potash Plc