Bermudian-based Veritas Group Ltd has announced a new business strategy for the company.

Veritas said the strategy was approved by its members at a recent special meeting.

In a filing with the Bermuda Stock Exchange, the company wrote: “The new strategy comprises of a plan to convert Veritas into a private company which involves the voluntary delisting of the company as a mezzanine equity market listed company from the BSX.

“This change will be accompanied by a focus on raising funds from the debt market, including amending and refiling a $150 million note programme with the BSX originally filed in January 2024.

“The company’s market focus will be on acquisitions and funding for organic fertiliser products, biomass facilities and equipment and small airports for use in transportation and distribution of agriculture products.

“Also, the company plans to invest in 3D concrete construction facilities for use with the agriculture and other facilities.

“Finally, once debt capital and additional resources are in place, the company will consider rejoining an internationally recognised stock exchange.”

The voluntary delisting of Veritas’s common shares from the BSX was effective last month.

Veritas Group said it strives to revolutionise global agricultural practices by facilitating the transition from chemically dependent crops and depleted soils to robust organic systems enriched with minerals and nutrients.

It said its investments in green initiatives include NPK75, its signature enhanced organic fertiliser product, as well as potential sister entities in areas such as crop dusting, sustainable living and recreation, renewable energy generation, and innovative construction.