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VERDE AGRITECH May 17 , 2021 VERDE GROWS SALES BY 63 % AND REVISES UPWARDS ITS 2021 SALES TARGET ( All figures are in Canadian dollars , unless stated otherwise . Average exchange rate in Q1 2021 : C $ 1.00 = R $ 4.33 ) Belo Horizonte , Brazil . Verde AgriTech Plc ( TSX : " NPK ” ) ( OTCQB : “ AMHPF " ) ( " Verde " or the " Company " ) is pleased to announce its financial results for the first quarter , ended on March 31 , 2021 ( " Q1 2021 " ) . Q1 2021 FINANCIALS . Sales increased by 63 % with 16,558 tonnes sold , compared to 10,170 tonnes sold in the first quarter of 2020 ( " Q1 2020 ” ) . The Company recognised revenue of $ 831,000 , an increase of 63 % compared to $ 510,000 in Q1 2020 . Brazilian Real ( " R $ " ) revenue increased by 113 % , to R $ 3,599,000 compared to R $ 1,690,000 in Q1 2020 . . Gross margin increased to 41 % in Q1 2021 , compared to 35 % in Q1 2020 . In line with the Company's expectation for Brazil's rainy season typical of the years ' first quarter , Verde recorded a Q1 2021 net loss of $ 1,008,000 , compared to a net loss of $ 792,000 in Q1 2020 . Cash held by the Company increased by 150 % , to a total of $ 2,021,000 in Q1 2021 , compared to $ 806,000 in Q1 2020 . " We are excited with another strong first quarter , especially in light of the triple - digit revenue growth in local currency . We are confident 2021 will be another successful year in our fast - growth trajectory " , said Cristiano Veloso , Verde's Founder . 2021 GUIDANCE The Company's target for 2021 was to achieve R $ 50 million revenue , as announced in the press release disclosed on November 15 , 2020. Verde is pleased to announce a 10 % increase in its guidance , totalling a revenue target of R $ 55 million for 2021 , which will represent a 56 % growth YoY . " If we continue to see strong sales in the following months above initial expectations , it is natural that the yearly guidance may be further increased over the next quarterly results " , completed Mr. Veloso .