Verde Potash (T.NPK) gets Brazilian government financing, anticipates 90% funding of plant

Chris Parry Chris Parry, Stockhouse.com
1 Comment| February 18, 2014


Toronto-based Verde Potash (TSX:T.NPK, Stock Forum) announced shortly before trading close Tuesday that it has been selected for special financing by the Brazilian government financing program Inova Agro (translated: Innovative Agri).
 
The financing will be applied to the Cerrado Verde potash project.
 
Stockhouse understands the company expects up to 90% financing of a thermopotash plant out of the program.
 
Cristiano Veloso, Verde’s Pesident and CEO, said in a news release, "Inova Agro's decision is immensely important not only for Brazil but for the world's population [which is] ever so reliant on Brazil's food production.”
 
Veloso called the program “groundbreaking” and said, with it, “Brazil takes a step towards reducing its economy's debilitating dependency on imported potash."
 
Under the program, companies are provided with financial support for innovative agricultural projects. That support takes the form of subsidized interest, equity investment, and non-reimbursable grants.
 
Inova Agro is part of a larger scheme that funds numerous sectors with a total budget of around $15 billion per year.

Tags: INDUSTRIAL METALS & MINERALS

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TheSlowLane
"Maybe Verde’s jump is innocent. Maybe it’s just a fluke. Maybe it’s undervalued and the market just got the memo. Maybe it’ll keep going to a dollar." Considering how Verde's price got taken down after this article and then what happened yesterday the premise of your last article on Verde (that the stock is being manipulated) seems more relevant than ever. Will there be a follow up? Just sayin'...
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February 19, 2014
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