Business
Amazonas Florestal Ltd. Today Reported a Progress Update on Advances of Its Subsidiary's CBD Hemp Project in Colorado and Further Announced Updates on Company Business
Amazonas Florestal Ltd. Today Reported a Progress Update on Advances of Its Subsidiary's CBD Hemp Project in Colorado and Further Announced Updates on Company Business.
About this update from Amazonas Florestal Ltd
[{"type":"text","content":"\n\n MIAMI, FL, Dec. 05, 2017 (GLOBE NEWSWIRE) -- \n Amazonas Florestal, Ltd. (www.azflusa.com) (OTC: PINK: AZFL), a natural resources company dedicated to innovative, sustainable forest management, Industrial CBD Hemp and the certification and sales of carbon credits, today announced that the company’s wholly-owned subsidiary Amazon Hemp is moving forward with plans to plant additional acreage in Colorado beginning April 2018, and has identified 2 new properties to add to the 2 presently secured. The Company has also hired personnel to complete the formulation of its retail product line of oils that it expects to launch during the first quarter of 2018. The Company also announced that it entered into a 3a10 process with 303 Farms, its contractors in Colorado, through Northbridge Financial that was approved on November 22, 2017, for a total of $ 291k. These payments complete the company's financial responsibilities in Colorado for 2017. The Company also announced launching of a new subsidiary, Amazon Labs, and that it has entered into an MOU with Luis Fernandez naming him agent for New Business Development. Mr Fernandez, former director for LATAM BDS, has through an illustrious career been proven effective to raise funding for new business developments and will be collaborating with Company Management to structure a $4 Million investment that the company expects to raise for the completion of Amazon Labs in Colorado beginning the first quarter of 2018. The Company also announced that it is moving forward with its Carbon Offset project on its properties on Northern Brazil. This week company contractor Edson Braga signed an agreement through which the company will begin geo-referencing the first 10,400 hectares that it owns in Borba, Amazonas. The GEO process forms part of completing the new SYSCAR requirements imposed by the Brazilian Federal Government through its environmental agency IBAMA. This step will move the company one step closer to priming these properties for a REDD + project through a UN initiative that could represent substantial revenues for the company by the last quarter of 2018. Ricardo Cortez, Company Chairman for Amazonas Florestal, Ltd., said, \"We are very pleased to announce this progress on all fronts of our present business directions. Our shareholders will be pleased to know also tha...