Rainfores Tresources > RAINFOREST RESOURCES INC. ANNOUNCES FURTHER CARBON CONTAINMENT WITH THE FINALIZATION OF THE ACQUISITION PROCESS OF LAND IN “SAN VICENTE DE CAMBUGAN”
RAINFOREST RESOURCES INC. ANNOUNCES FURTHER CARBON CONTAINMENT WITH THE FINALIZATION OF THE ACQUISITION PROCESS OF LAND IN “SAN VICENTE DE CAMBUGAN”
Miami Florida – (OTC Markets) – October 7, 2020 – Rainforest Resources Inc. (“RRIF”), announced today that through its subsidiary RAIN Forest Enterprise SA, it has issued respective certificates to finalize the property acquisition in SAN VICENTE DE CAMBUGAN, as announced in the LOI, dated July 7, 2020. This process will take eight days for the notarization process and will then verify and complete the Purchase and Sale Agreement of SAN VICENTE DE CAMBUGAN.
With this further acquisition of rainforest and highlands in SAN VICENTE DE CAMBUGAN, Ecuador, Rainforest Resources Inc. will expand the containment of carbon emissions and can add further value to the company and its mission to keeping important ecosystems intact and saving endangered animals from extinction.
One hectare of this land sequesters approx. 180 tons carbon per year. The newly acquired 9,190 hectares of rainforest and highlands will offset 1,654,200 tons of carbon yearly. The carbon sequestration potential of afforestation/reforestation is specific to the species, site and management involved, and is therefore very variable. Rainforest Resources Inc. will not only double its carbon containment, it will also continue to protect waterfalls, rivers and the high biodiversity of endemic flora and fauna of the region.
The LOI is subject to the verification of titles to the property. Upon receipt of title verification, the Company will enter into a Purchase and Sale Agreement, the detail of which will be disclosed on the Company website www.rainforestresourcesinc.com and OTC Markets.
This Press Release contains certain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. Words such as “expects” “anticipates” “plans” “believes” “scheduled” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements, which include but are not limited to projections of revenues, earnings, segment performance, cash flows, contract awards, and stability. Forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors beyond the control of management. All forward-looking statements speak only as of the date of this release, or, in the case of any documents incorporated by reference, the date of that document. All subsequent written and oral forward-looking statements attributable to the company or any person acting on thecompany’s behalf are qualified by the cautionary statements in this section. The company does not undertake any obligation to update or publicly release any revisions to forward looking statements to reflect events, circumstances or changes in expectations after the date of thisreport.