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February 19, 2014 News Release 2014-6
Vancouver, BC, Canada: Pacific Wildcat Resources Corp. (TSXV-PAW) (“PAW” or the
“Company”) wishes to report that further to the Company’s press releases of 27 August 2013,
titled “Cortec Files an Application in Kenya’s High Court”, 15 October, 13th November 2013,
18th December 2013 and 20th January 2014 titled “ Update on Cortec’s Application in Kenya’s
High Court”, Cortec Mining Kenya Limited’s (“Cortec”) (PAW indirect 70 % interest)
application to the Kenyan High Court was heard on the 18th February 2014 for the delivery of
the Ruling on the application by the National Environmental Management Authority (“NEMA”),
seeking to strike out this suit on the claim that it ought to have been filed in Environment and
Land Court and the Attorney General’s application seeking the appointment of a bench of
three judges to hear the matter. The Court dismissed the application by NEMA, holding that
the suit was rightfully instituted before the Judicial Review Division of the High Court.
The Judge directed that in the interests of justice, the suit be referred to the Environment and
Land Division for determination. He further directed that the suit be mentioned before a judge
in the said division on 4th March, 2014 in order that directions on the highlighting of
submissions may be taken.
The Judge held that he will not rule on the Attorney General’s application, in view of his
decision referring the suit to the Environment and Land Division. He directed that the
application be held in abeyance pending the directions to be given on 4th March, 2014.
The Company will provide further details when any material matter arises from the future
hearings.
ON BEHALF OF THE BOARD OF DIRECTORS OF
PACIFIC WILDCAT RESOURCES CORP.
“Don O’Sullivan”, President & CEO
Contact information:
Terese Gieselman
Company Secretary/Chief Financial Officer
Pacific Wildcat Resources Corp.
Email: info@pacificwildcat.com
Telephone: +1-250-768-0009
Pacific Wildcat Resources Corp. website: www.pacificwildcat.com
Verde to receive 250-million-real financing from Inova
2014-02-19 09:54 ET - News Release
Shares issued 37,532,430
NPK Close 2014-02-18 C$ 0.87
Mr. Cristiano Veloso reports
VERDE POTASH PROVIDES ADDITIONAL INFORMATION ON INOVA AGRO
Verde Potash PLC has provided a summary of the company's business plan that was selected by Inova Agro. Verde's business plan for the development of the Cerrado Verde potash project consists of building a greenfield 1,000-tonne-per-day ("tpd") plant capable of producing ThermoPotash and also of seeking performance guarantees for a large-scale KCl kiln. Inova Agro approved Verde's business plan that requested funding for approximately 90% of the business plan, which includes investments in market development, pre-construction costs and working capital post commissioning for six months.
Verde submitted its application and support documentation to the Inova Agro program in August 2013. In September 2013, the Company was notified of its selection to advance to the program's next round of evaluation. For the final selection round, Verde submitted its business plan for the development of Cerrado Verde, at an estimated total of R$ 280 million (approximately US$ 115 million), of which R$ 250 million (approximately US$ 105 million) was asked from Inova Agro. This capital is to be provided via loans with subsidized interest rates, equity investment and non-reimbursable project investment grants from the Brazilian Development Bank ("BNDES") and/or the Financing Agency for Studies and Projects ("FINEP"), both of which are branches of the Brazilian government that operate Inova Agro. Of the total capital, up to R$ 10 million (approximately US$ 4.2 million) can be provided as a non-reimbursable project investment grant.
Commenting, President & CEO, Cristiano Veloso stated: "The selection for the Inova Agro funding is a strong endorsement from the federal government, acknowledging both Verde's competence to bring the project into production and the importance of the project for Brazil's long term agricultural development."
Commencing March 19th, 2014, BNDES and FINEP will meet with the selected companies to define a "Plano de Suporte Conjunto" (a joint support plan) where the funding structure will be defined, including the pre-conditions and a timeline for fund disbursements.
Any applicant to the program can file an appeal regarding the selection results. The appeal must be filed within ten calendar days and final results will be confirmed on March 18th, 2014.
Inova Agro
Inova Agro is an initiative of the Brazilian government aimed at coordinating the resources of BNDES and FINEP to provide financial support to innovative projects in the agriculture sector. The Inova Agro support program involves a specific set of criteria and a schedule for the distribution of funds. Companies and projects that are successful in securing financial support from Inova Agro will have funding plans set starting in March 2014.
The Inova Agro program targets three business sectors for funding: agribusiness inputs, food industry processing and agribusiness equipment. The Company's Cerrado Verde project expects to significantly contribute to Brazil's production of potash fertilizers and therefore fits into the inputs for agribusiness (fertilizers) portion of the program.
Inova Agro is part of the larger Inova Empresa program, which spans a number of sectors. The total budget for Inova Empresa is R$32.9 billion (approximately C$15.0 billion). While the budget for Inova Agro provides for R$1 billion in funding, this figure could increase at the discretion of the funding institutions (BNDES and FINEP).
About BNDES
The Brazilian Development Bank (BNDES), a state-owned company, is the main financing institution for development in Brazil. Since its foundation in 1952, the BNDES has played a fundamental role in stimulating the expansion of industry and infrastructure in the country. Over the course of the Bank's history, its operations have evolved in accordance with the Brazilian socio-economic challenges; today they include support for exports, technological innovation, sustainable socio-environmental development and the modernization of public administration.
The Bank offers several financial support mechanisms to Brazilian companies of all sizes as well as public administration entities, enabling investments in all economic sectors. In any supported undertaking, from the analysis phase up to the monitoring, the BNDES emphasizes three factors it considers strategic: innovation, local development and socio-environmental development.
About FINEP
The Financing Agency for Studies and Projects (FINEP) is a state-owned company under the Brazilian Ministry of Science and Technology that promotes economic and social development by fostering innovation in public and private companies, universities, technological institutes and other public and private institutions in the country.
Founded in 1967, the organization has funded thousands of successful initiatives, including the development of Embrapa, Brazilian agribusiness projects, oil exploration and development of the aircraft Embraer Tucano.
We seek Safe Harbor.
Verde Potash may obtain financing from Cerrado Verdo
2014-02-18 14:02 ET - News Release
Mr. Cristiano Veloso reports VERDE POTASH IS SELECTED TO OBTAIN FINANCING FROM INOVA AGRO Inova Agro, a special financing program of the Brazilian government, has selected Verde Potash PLC to obtain financing for its Cerrado Verde potash project. The company will issue a subsequent press release with additional details. "Inova Agro's decision is immensely important not only for Brazil but for the world's population, ever so reliant on Brazil's food production. Thanks to a groundbreaking funding program in the agriculture sector, Brazil takes a step towards reducing its economy's debilitating dependency on imported potash," commented Cristiano Veloso, president and chief executive officer. Inova Agro is a Brazilian government program intended to finance innovative projects in the agriculture sector, including those focused on fertilizers. Selected projects will be considered for subsidized interest rates, equity investment and non-reimbursable project investment grants from the Brazilian Development Bank (BNDES) and/or the Financing Agency for Studies and Projects (FINEP), both of which are arms of the Brazilian government with a mandate to support domestic projects. Inova Agro Inova Agro is an initiative of the Brazilian government aimed at co-ordinating the resources of BNDES and FINEP to provide financial support to innovative projects in the agriculture sector. The Inova Agro support program involves a specific set of criteria and a schedule for the distribution of funds. Verde submitted its application and support documentation to the Inova Agro program in August, 2013, and in September, 2013, was notified of its selection to advance to the program's next round of evaluation. Companies and projects that are successful in securing financial support from Inova Agro will have financing plans set starting in March, 2014. The Inova Agro program targets three business sectors for funding: agribusiness inputs, food industry processing and agribusiness equipment. The company's Cerrado Verde project expects to significantly contribute to Brazil's production of potash fertilizers and therefore fits into the inputs for agribusiness (fertilizers) portion of the program. Inova Agro is part of the larger Inova Empresa program, which spans a number of sectors. The total budget for Inova Empresa is 32.9 billion reals (approximately $15.0-billion (Canadian)). While the budget for Inova Agro provides for one billion reals in funding, this figure could increase at the discretion of the funding institutions (BNDES and FINEP). Any participant of the program can file an appeal regarding this preliminary result. The appeal must be made within ten calendar days and final results will be confirmed on March 18, 2014. About BNDES The Brazilian Development Bank (BNDES), a state-owned company, is the main financing institution for development in Brazil. Since its foundation in 1952, the BNDES has played a fundamental role in stimulating the expansion of industry and infrastructure in the country. Over the course of the bank's history, its operations have evolved in accordance with the Brazilian socio-economic challenges; today they include support for exports, technological innovation, sustainable socio-environmental development and the modernization of public administration. The bank offers several financial support mechanisms to Brazilian companies of all sizes as well as public administration entities, enabling investments in all economic sectors. In any supported undertaking, from the analysis phase up to the monitoring, the BNDES emphasizes three factors it considers strategic: innovation, local development and socio-environmental development. About FINEP The Financing Agency for Studies and Projects (FINEP) is a state-owned company under the Brazilian Ministry of Science and Technology that promotes economic and social development by fostering innovation in public and private companies, universities, technological institutes, and other public and private institutions in the country. Founded in 1967, the organization has funded thousands of successful initiatives, including the development of Embrapa, Brazilian agribusiness projects, oil exploration and development of the aircraft Embraer Tucano. We seek Safe Harbor.
© 2014 Canjex Publishing Ltd. All rights reserved.
V:NOT - Noront Resources Ltd. - http://www.norontresources.com
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