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Verde AgriTech's Magnes Rare Earths Reports Additional Assays from Minas Americas Project in Brazil

Verde AgriTech's (NPK.TO) subsidiary Magnes Rare Earths provided additional head-grade rare earth assay results from the Minas Americas global alliance project in Brazil, the company said Tuesday.Highlights the company cited include 10 meters from surface averaging 9,736 parts per million (ppm) total rare earth oxide (TREO) and 2,407 ppm magnet rare earth oxide, with MREO representing 24.7% of TREO. Results also include a peak one-meter original sample within an interval of 11,016 ppm TREO from 5 m to 6 m."The important point in this batch is not one isolated sample," Magnes Founder and Chief Executive Officer, Cristiano Veloso, said in a statement. "It is the repetition of shallow rare earth mineralization across a much larger drill dataset, with the strongest intervals continuing to carry the magnet rare earth oxides that matter most for permanent magnets: neodymium and praseodymium, with dysprosium and terbium support."Assay results have now been reported from 297 drill holes at Minas Americas, Verde said.Verde was down 3% yesterday in Canada.

Verde AgriTech's Magnes Rare Earths Reports On Minas Americas Rare Earth Project

Verde AgriTech Announcing Formation of Magnes Rare Earths and Leadership Transition

Verde AgriTech (NPK.TO), which lost near 8% yesterday, announced Wednesday a strategic reorganization designed to "sharpen focus, unlock value, and position both of its businesses for their next stage of growth".Its board of directors has approved the formation of Magnes Rare Earths, a new wholly owned subsidiary of Verde that will hold and advance the Minas Americas Global Alliance Project in Minas Gerais, Brazil. As part of this transition, Cristiano Veloso will step down as Chief Executive Officer and as a director of Verde and assume the roles of Chief Executive Officer of Magnes Rare Earths. Reberth Machado has been appointed Chief Executive Officer of Verde, effective June 1st, 2026.At Verde, Machado will work alongside Felipe Paolucci, who will continue as Chief Financial Officer, and Marcus Ribeiro, who will continue as Chief Revenue Officer. Following the transition, Veloso will continue supporting Verde, on a non-exclusive external advisory basis, "helping ensure leadership continuity and a successful separation of the two businesses."The company intends for Magnes to pursue a separate listing on a U.S. stock exchange, subject to market conditions, corporate approvals, applicable regulatory requirements, and any required shareholder approvals.Shares in NPK were down $0.07 at $0.83 yesterday.

Verde AgriTech Announcing Formation of Magnes Rare Earths and Leadership Transition to "Sharpen Focus and Unlock Value Across Two Distinct Growth Platforms"