Technology

Verde Agritech (TSX: NPK) and Nautica Holdings (ASX: NPK) Announce Share Sale Agreement for Brazilian Rare Earth Assets

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Highlights:

Verde Agritech Ltd (TSX: NPK) (OTCQX: VNPKF) and Nautica Holdings Limited (ACN 647 075 401) have entered into a Share Sale Agreement (SSA), facilitating the acquisition of high-grade magnetic rare earths exploration assets located in Brazil. The deal involves the transfer of these assets from Verde’s subsidiary, Oby Rare Earths Pty Ltd (Oby), to Nautica Holdings.

This strategic move allows Verde to realize value for its shareholders and provides Nautica with the resources to advance its exploration efforts. Nautica, an Australian unlisted public company with AUD $1 million in available cash, will allocate these funds toward preparations for its initial public offering (IPO) on the Australian Securities Exchange (ASX) and advancing the project.

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