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Gold/Mining/Energy : Verde Agritech

NPK.TO 1.150

+0.9%

1:17 PM EST

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Sultan

To: Sultan who wrote (16441)	7/27/2023 8:59:59 AM
From: kidl	1 Recommendation Read Replies (1) of 16582

Verde to Sell Carbon Credits SINGAPORE, July 27, 2023 (GLOBE NEWSWIRE) -- Verde AgriTech Ltd (TSX: “NPK”) ("Verde” or the “Company”) is pleased to announce that it is in advanced negotiations to sell carbon credits to major international corporations that are established purchasers of permanent carbon offset. Currently, carbon credits for permanent carbon offset similar to Verde’s are being sold at prices up to US$500 per tonne.1 The Company is able to generate up to 300,000 tonnes of carbon credit annually via its existing production facilities. Verde’s silicate rock is rich in the mineral glauconite (the “Rock”), which once processed and applied to the soil removes carbon dioxide ("CO2") from the air through a process called Enhanced Rock Weathering (“ERW”).2 ERW permanently locks CO2 into the new mineral structure.3 In 2022 the carbon credit markets totalled US$ 909 billion in transactions.4 The Company is fully permitted and equipped to mine and process up to 2.8 million tonnes per year of Rock. To build its mines, Verde acquired farmland that had previously been deforested to open area for pastureland, as its mining progresses Verde fully recovers the land back to original native forests. To date, the Company has planted over 30,000 native and endangered trees. Verde expects to close its first sales of carbon credit in Q3 2023. Related JK comments:

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