23:47:15 EDT Sat 04 May 2024
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Captiva Verde Industries Ltd
Symbol VEG
Shares Issued 21,513,896
Recent Sedar Documents

ORIGINAL: Captiva completes 2015 audit, omits P&L from NR

2016-04-29 23:14 ET - News Release

Received by email:

File: VEG - April 29, 2016.pdf






                                                                                                 
                                                                       Suite201 78080CalleAmigo
                                                                               LaQuinta,CA,92253
                                                                               Phone:949.903.5906
                                                                                                 

   ForImmediateRelease                                                Friday,April29,2016
   LaQuinta,California                             CanadianSecuritiesExchangeSymbol:VEG
                                                   UnitedStatesOTCMarketSymbol:ARDWF
                                                          57,508,231CommonSharesIssued



                CAPTIVA VERDE ANNOUNCES 2015 AUDIT RESULTS

La Quinta, California   April 29, 2016 Captiva Verde Industries Ltd. ("Captiva Verde" or the
"Company")announcesthecompletionofits2015Auditforthe12monthsendedDecember31st.

Calendar2015reportsourfirstperiodofcommercialoperations;itwasonlythelasttwomonthsof
theyearwhereproductionhappenedinearnest.Fromanoperatingstandpoint,givenfinetuningof
theequipmentandprocessesduringOctober,thelasttwomonthsof2015werethefirsttwomonths
ofsteadysales.Thesetwomonthsaveragedamilliondollarspermonth.

ThemajorityoftheCompany'sproductwassoldonthespotmarket as weneeded todisplayour
capacityandabilitytoproduce,onalargescale,inordertoattractleadingbuyersintheindustry.
ThismajorinvestmentwasmadetotheCompany'sfieldstoshowcasethisproductioncapacity.

Asaresult,theCompanyfinallyachieveditsbusinessplanin2016andwillonlybeplantingproduct
for contracted sales.  To that end, the Company has finally secured 455,000 pounds per week in
annualcontractsalesandisindiscussionsforanadditional120,000poundsperweektofulfillits
totalproductioncapacityof500,000to600,000perweek.

Thepreviousunreliable,butnecessaryandtemporaryrelianceonthespotmarkethadanegative
effectontheCompanyandresultedinacreageinSalomeandtheImperialValleybeingplowedunder
duetolackofcontractsalesandresultinginoversizespoilagethroughoutthosetworegions.These
amounts plus the initial start up costs of the Company during its first year, have been written off
againstthefirsttwomonthsofsales.

CopiesoftheFinancialStatementsandtheaccompanyingManagementDiscussionandAnalysiscan
befoundonthecompany'swebsitewww.veg.netandwww.sedar.com

TheCompanylooksforwardtoaveryexcitingandrewarding2016.

OnbehalfoftheBoardofDirectorsoftheCompanyandforfurtherinformation,pleasecontact:

   Jeffrey Ciachurski                            Michael Boyd
   Chairman and Chief Executive Officer          Director
   Suite 201 78080 Calle Amigo                   Tucson, Arizona
   La Quinta, California USA 92253               Office: (502) 275-0979
   Cell: (949) 903-5906                          E-mail: azmboyds@aol.com


 

   E-mail: Jeff@veg.net
   Website: www.veg.net

READER ADVISORY
The CSE has neither approved nor disapproved the information contained herein.

This news release contains forward-looking statements. The Company has provided the forward-looking statements in
reliance on assumptions that it believes are reasonable at this time. The reader is cautioned that the assumptions use
--->d in
the preparation of the forward-looking statements may prove to be incorrect. All such forward-looking statements invol
--->ve
substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks
and uncertainties include, without limitation, delays resulting from or inability to obtain required regulatory approv
--->al. The
actual results, performance or achievements could differ materially from those expressed in, or implied by, these forw
--->ard-
looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-look
--->ing
statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company
---> will
derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive.





                                                               
                                                                                                                      
--->          
                         CAPTIVAVERDEINDUSTRIESLTD.
        Suite201 78080CalleAmigo,LaQuinta,California92253|PH:949.903.5906
                                       
                                     -2-

 


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