Verde Agritech Limited and Nautica Holdings Limited announce strategic transaction for high-grade magnetic rare earths exploration assets

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[{"type":"text","content":"Verde Agritech Limited and Nautica Holdings Limited announce strategic transaction for high-grade magnetic rare earths exploration assets\n\n\n\n SINGAPORE, April 09, 2025 (GLOBE NEWSWIRE) --\n \n Verde Agritech Ltd\n \n (TSX: “\n \n NPK\n \n ”) (OTCQX: “\n \n VNPKF\n \n ”) (\"\n \n Verde\n \n ” or the “\n \n Company\n \n ”) and Nautica Holdings Limited (ACN 647 075 401), an Australian unlisted public company with AUD $1 million in cash available for investment, are pleased to jointly announce the execution of a Share Sale Agreement (“\n \n SSA\n \n ”). Under the SSA, Nautica will acquire high-grade magnetic rare earths exploration assets located in Brazil (\"\n \n Exploration Assets\n \n \") from Verde’s subsidiary, Oby Rare Earths Pty Ltd (\"\n \n Oby\"\n \n ).\n \n\n This strategic transaction enables Verde to realize value for its shareholders and positions Nautica as a significant player in the rare earths sector, capitalizing on increasing global demand for critical minerals. The AUD $1 million available in Nautica will be specifically allocated towards preparations for an IPO on the Australian Securities Exchange (“\n \n ASX\n \n ”), developing the project and advancing exploration.\n \n\n\n Transaction Overview\n \n\n\n\n Verde discovered high-grade rare earth elements on its Brazilian mining concessions through reassessment of historical drill data (see Verde’s press release from October 07, 2024)\n \n 1\n \n .\n \n\n In late 2024, Verde incorporated Oby in Australia as a wholly owned subsidiary to acquire and manage the Exploration Assets (see Verde’s press release from November 20, 2024)\n \n 2\n \n .\n \n\n On 27 January 2025, Verde shareholders were entitled to a pro-rata distribution of shares in Oby as part of a planned spin-out of the Exploration Assets (“\n \n Record Date\n \n “) (see Verde’s press release from December 20, 2024)\n \n 3\n \n .\n \n\n On or about 31 March 2025, Nautica agreed to acquire the Exploration Assets, comprising three primary targets—Nau de Guerra, Bálsamo, and Alto da Serra—collectively hosting a maiden mineral resource estimate of 1.35 billion tons averaging 3,437 parts per million (“\n \n ppm\n \n ”) Total Rare Earth Oxides (“\n...

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