Wednesday, 12 August 2015 09:45 AM
MIAMI, FL / ACCESSWIRE / August 12, 2015 / Amazonas Florestal, Ltd. ("Amazonas" or "Company") (http://www.amazonasf.com/) (OTC Pink: AZFL) (PINKSHEETS: AZFL), a natural resources company dedicated to innovative, sustainable forest management, and the establishment of a stateside revenue stream from the planting, harvesting and research and development of Industrial Hemp and related products, today provided a progress update on its Audit and recent Letter of Intent to acquire K.R. Producao Florestal Ltd:
According to the Auditors Update received by the Company at the end of last week, their auditing work should complete no later than August 21st. This anticipated date falls within the Company's timeline set forth to in its previous update issued on August 4, 2015 to file a registration statement and become fully reporting no later than October 15th, 2015.
The Letter of Intent signed July 31st, 2015 to acquire K.R. Producao Florestal Ltd, which owns a subsidiary in the area of Manaus, Brazil that is fully-licensed to extract, export, purchase and sell all types of forest products that originate in the Amazon regions of Northern Brazil, was accepted by the seller after company consultants concluded a due diligence review of all of required and requested supporting documentation. It is the recommendation of the consultants that the Board proceed to agree unanimously to accept the terms of this acquisition. The acquisition also comes with more than 67,000 acres of rural land suitable for forest management and preservation projects such as REDD +, a United Nations program. The Company expects to complete this acquisition by September 15, 2015 as stipulated in the accepted LOI.
Ricardo Cortez, Chairman of the Board of Amazonas Florestal Ltd. stated that, "The Company is making progress on all counts and remains in line with our business initiatives as announced last week. Management is pleased with how the audit is advancing and looks forward to completing the acquisition of this new subsidiary that is fully-licensed in Brazil. We have been resilient in our intent to participate in preservation projects in the Amazon and now have access to the right land and business combination that can ensure our participation in the U.N. preservation programs. These programs have been proven to be the most practical and profitable end use for these type of properties that contain expansions of virgin native forests."
About Amazonas Florestal Ltd.
Amazonas Florestal Ltd. is a natural resources company dedicated to innovative, sustainable management of large tracts of land in the rainforests of Amazonas, Brazil and to the growth, harvesting, research and development of Industrial Hemp and related products in the USA.
Headquartered in Miami, FL, Amazonas' goal is to become a leader in sustainable forest management, creating revenue while protecting the biodiversity of the rainforest ecosystem and enhancing the lives of the people who live in it. Through a strategy of selective harvesting, biomass production, and conservation incentives, Amazonas Florestal Ltd. intends to protect one of the world's greatest natural resources and show how its preservation can be made a profitable activity.
Disclaimer: Forward Looking Statements
Forward-looking statements in this release regarding Amazonas Florestal Ltd. are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
CONTACT:
Amazonas Florestal Ltd.
Ricardo Cortez
Chairman of the Board
1110 Brickell Ave, Ste. 430
Miami, FL 33131
Phone: (855) 285-2227
Email: [email protected]
Web: http://www.amazonasflorestal.com/
SOURCE: Amazonas Florestal Ltd.