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VERDE AGRITECH March 31 , 2021 VERDE DELIVERS 97 % GROSS PROFIT GROWTH WITH 62 % GROSS MARGIN FOR 2020 , AND FIRST FULL YEAR PROFIT ( All figures are in Canadian dollars , unless stated otherwise . Average exchange rate in 2020 : C $ 1.00 = R $ 3.84 ) Belo Horizonte , Brazil . Verde AgriTech Plc ( TSX : " NPK " ) ( OTCQB : “ AMHPF " ) ( " Verde " or the " Company " ) is pleased to announce its financial results for the fourth quarter ( " Q4 2020 ” ) and full year ended December 31 , 2020 ( " FY 2020 ” ) . Q4 2020 FINANCIALS • • Sales increased by 76 % with 56,585 tonnes sold , compared to 32,221 tonnes in the fourth quarter of 2019 ( " Q4 2019 " ) . Gross margin increased to 59 % in Q4 2020 , compared to 36 % in Q4 2019 . The Company recognised revenue of $ 2,209,000 , an increase of 48 % compared to $ 1,491,000 in Q4 2019 despite a 14 % decline in the price of potash delivered to Brazil . In Brazilian Real ( " R $ " ) , revenue increased by 92 % , to R $ 8,489,000 compared to R $ 4,429,000 in Q4 2019 . The Company recorded a net loss of $ 192,000 , compared to a net loss of $ 11,000 in Q4 2019 . Cash held by the Company increased by 236 % , to a total of $ 2,237,000 , compared to $ 666,000 in Q4 2019 . FY 2020 FINANCIALS . Sales increased by 103 % with 243,707 tonnes sold , compared to 119,809 tonnes in the year ended December 31,2019 ( " FY 2019 ” ) . Gross margin increased to 62 % in FY 2020 , compared to 48 % in FY 2019 . The Company recorded a gross profit of $ 5,652,000 , compared to a $ 2,863,000 gross profit in FY 2019 , an increase of 97 % . Revenue increased by 52 % , with a total of $ 9,167,000 , compared to $ 6,029,000 in 2019 , despite a 27 % decline in the price of potash delivered to Brazil . In R $ , revenue increased by 97 % , to R $ 35,232,000 , compared to R $ 17,913,000 in FY 2019 . • Revenue per tonne was $ 38 , compared to $ 50 in FY 2019. The Product price is based on the current US Dollar ( " US $ " ) Potassium Chloride price . Therefore , the reduction of the average revenue per tonne was mainly due to the decline of the Potassium Chloride CFR ( Brazil ) price .