BluForest Inc. Acquires 30,000 Hectares of Forest in Ecuadorian Amazon
Jun 28, 2012 10:16 PM EST
FOR: BLUFOREST INC.
QUITO, ECUADOR--(Marketwire - June 28, 2012) - BluForest Inc. (OTCBB: BLUF) (OTCQB: BLUF)
BluForest Inc. today announced that it has acquired 30,000 hectares of native forest in the province of Esmaraldas in Ecuador. The lands, appraised at an overall value of approximately US $180 Million Dollars, will bring BluForest's total land holdings to 135,000 hectares of forested lands from which it will generate tradable carbon credits by preserving the Amazon's rainforests. The carbon credits will be generated through the United Nations collaborative initiative of Reducing Emissions from Deforestation and forest Degradation (REDD+) in developing countries.
"This acquisition is another clear demonstration of BluForest's commitment to set a new standard for responsible, sustainable business in carbon offset trading. Our ability to develop strong relationships with all stakeholders, especially with the Indigenous Peoples and other forest-dependent communities, is a cornerstone of our operations that will continue to set us apart," said Charles Miller, CEO of BluForest Inc. "This acquisition, which brings the total value of our appraised assets to approximately US $700 Million Dollars, demonstrates our ability to execute our carbon credit strategy of acquiring lands or the rights from lands predicated on strong partnerships with governments, local municipalities and indigenous peoples," added Miller.
About BluForest Inc. (www.bluforest.com) (OTCBB: BLUF) is a development stage company that is a publically traded carbon offsets marketing company. BLUF is executing its strategy to become a leading marketer of carbon offsets in the voluntary markets under the UN principle of Reducing Emissions from Deforestation and forest Degradation. The company has recently launched its new website which prospective investors are encouraged to visit for further information.
On behalf of the Board of BluForest Inc.
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