TORONTO, May 24, 2013 /CNW/ - Verde Potash (TSX: "NPK") ("Verde" or the "Company") is pleased to announce Mr.
Leonardo Moretzsohn will be joining the Company's Board of Directors in
June following the Company's Annual General Meeting taking place on
June 5, 2013 at 1:00pm. As an accomplished mining and finance
executive, Mr. Moretzsohn brings a wealth of experience to Verde's
Board, having served 24 years with Vale S.A. including as CFO of Vale
Inco and five years with the EBX Group. During his career, over US$10
billion of capital was raised through Brazilian, international and
development banks.
Mr. Moretzsohn has 30 years of project finance experience in the
development and implementation of various mining projects, including
the Carajas iron ore and Salobo copper projects and the Alunorte
alumina refinery. During his 24 year tenure at Vale S.A, Mr. Moretzsohn
had an active role restructuring the non-ferrous division after the
company's privatization and implementing the strategic planning process
for the iron ore and aluminum businesses. Mr. Moretzsohn supported
Vale's execution of a number of M&A transactions in iron ore and base
metals projects. When Vale acquired Inco, Mr. Moretzsohn was appointed
CFO and was a member of the committee responsible for integrating the
acquired company into Vale's business model and coordinating the
financial activities of Vale Inco and its subsidiaries in Canada,
Indonesia and New Caledonia. He has served as a Director on Boards both
in Brazil and abroad, including those of PT Vale Indonesia Tbk and
Samarco Mineração (a Brazilian iron ore joint venture between Vale S.A.
and BHP Billiton).
During his tenure with EBX Group, Mr. Moretzsohn was appointed CFO of
MMX Minas Rio and EBX Holding S.A. Mr. Moretzsohn was also appointed
CEO of CCX to develop a major greenfield thermal coal project in
Colombia. He was instrumental in the growth of EBX from 2007 to 2012 as
it became one of the most important resource conglomerates in Brazil.
President and CEO, Cristiano Veloso, commented: "The Company's stage of
transition from development to project finance and construction
warrants directors strongly integrated with capital markets and
development banks. Leonardo is a singular talent with a wealth of
relevant experience and relationships that will open a number of
important doors for the Company."
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 potassium
chloride (KCl). In addition, the Company is developing its Calcario
limestone project, limestone being a key raw material in the production
of 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 KCl to
Brazil's local agriculture market from its large potash-rich deposit.
Cautionary Language and Forward Looking Statements
NEITHER THE TSX EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) 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.
Readers are cautioned not to rely solely on the summary of such
information contained in this release and are directed to the complete
set of drill results posted 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
<p> <b>Cristiano Veloso</b>, President & Chief Executive Officer<br/> Tel: (416) 866-2966; Fax: (416) 866-8829; Email: <u><a href="mailto:cv@verdepotash.com">cv@verdepotash.com</a></u> </p> <p> <a href="http://www.verdepotash.com">www.verdepotash.com</a> </p> <p> <b>Jaret Anderson, CFA</b>, VP Corporate Development<br/> Tel: (416) 866-2966; ext. 223; Fax: (416) 866-8829; Email: <u><a href="mailto:ja@verdepotash.com">ja@verdepotash.com</a></u> </p>