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Horrison Resources Inc. Completes Acquisition of Aquilaria Trees
Horrison Resources Inc. Completes Acquisition of Aquilaria Trees.
About this update from Horrison Resources Inc
[{"type":"text","content":"\n\n\n\nHorrison Resources Inc. Completes Acquisition of Aquilaria Trees\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nHorrison Resources Inc. Completes Acquisition of Aquilaria Trees\nPR Newswire\nHONG KONG, May 14, 2020\n\n\n\nHONG KONG, May 14, 2020 /PRNewswire/ -- Horrison Resources Inc. (OTC PINK:HRSR) announces the completion of the agreement as of March 1, 2020 to acquire 1,000 Aquilaria (also known as Agarwood) trees from Mr. Nee Seng, Yap as part of its effort to combine long term financial growth of the company and to tackle climate crisis.\nAgarwood is a fragrant dark resinous wood which forms in the heartwood of Aquilaria spp. and Gyrinops spp. trees (large evergreens native to Southeast Asia) after they are infected by fungus. It is now rarely seen in such habitats and is now considered to be threatened with extinction worldwide. \nDue to its extremely limited supply, rarity and high value, Agarwood is commonly referred to as \"Liquid Gold\" or the \"Scent of Heaven.\"  It is widely used as a raw material for fragrances, traditional medicine, cosmetics, religious purposes, art, and food ingredient. Agarwood is among the most commercially valuable plant species in the world. In an article published on Frontiers in Plant Science on July 16, 2019 (PMID: 31379890), it was reported that the price per kilogram of Agarwood can range from US$100 to US$100,000 depending on the quality and grades. \nOud oil distilled from the Agarwood chips is one of the world's most expensive natural commodities, selling for more than US$50,000 a kilogram. Oud oil is a key skin care ingredient with many anti-inflammatory and anti-microbial properties. In addition, Oud oil is also used as a key ingredient by all the major international fragrances companies to portray their fragrances as luxury items and status symbols. The increasing demand for organic cruelty-free cosmetics is a reason why approximately US$90 million of Oud oil was exported into the United Kingdom and Europe in 2019.\nThe current global market for Agarwood is estimated to be in the range of...